• Thursday, February 22, 2024
businessday logo


Zedcrest Capital quotes maiden Commercial Paper on FMDQ Exchange

FMDQ Exchange says outstanding admitted CPs worth N1.03trn

FMDQ Securities Exchange Limited continues to provide access to capital for corporates entities through its efficient and proficient Securities Admissions Service.

In this regard, the Board Listings and Markets Committee of the Exchange has approved the quotation of the Zedcrest Capital Limited N5billion Series 1 Commercial Paper (CP) under its N15billion CP Issuance Programme on its platform.

Zedcrest Capital Limited, a subsidiary of Zedcrest Group, is a proprietary and capital management firm, investing in debt and equity capital markets, business acquisitions and buyouts.

To commemorate the CP quotation, FMDQ Exchange, held a prestigious Quotation Ceremony at its offices in April, for the Issuer, represented by Dayo Amzat, Group Managing Director, along with other key representatives from Zedcrest Capital. Also present at the Ceremony were the representatives from the sponsor to the quotation, CardinalStone Partners Limited, as well as other parties to the issue.

Tumi Sekoni, Managing Director, FMDQ Exchange, represented byJumoke Olaniyan, Senior Vice President, Business Development Division, FMDQ Exchange, whilst welcoming guests to the Ceremony, congratulated the Issuer for the successful quotation of its maiden CP, stating that FMDQ Exchange’s quotation service has been tailored to provide, amongst others, a unique opportunity for Issuers to raise finance thereby meeting their short term funding needs even as the Nigerian debt markets becomes aligned with international best practices and standards. She also stated that through this quotation, Zedcrest Capital will benefit from FMDQ Exchange’s diversified investor base, its highly efficient and responsive securities admission processes, amongst others. She highlighted that FMDQ Exchange will remain dedicated to advancing the growth of the Nigerian debt markets by leading and supporting market-driven initiatives and maintaining its position as the preferred platform for registration, listing, quotation, trading, and reporting of financial securities.

Read also:NGX lauds Securities Dealing Houses for enhancing professionalism, ethics in capital market

Whilst delivering the Special Address, Mr. Dayo Amzat commented that “Zedcrest Capital is pleased to announce its N5 billion CP Issue under our N15 billion shelf Programme quoted on the FMDQ Exchange’s platform. This Programme marks our entry into the capital market as an issuer and the proceeds will be deployed to implement Zedcrest Capital’s 2023 strategic goals of digitising its consumer finance business and expanding its securities dealing offerings beyond West Africa. We are proud to welcome top local investors from the Pensions, Asset Management and Insurance industries as strategic partners. We are humbled by the faith placed on us and we look forward to rewarding their trust through strong execution of our 2023 aspirations.”

Also, the sponsor of the CP and Registration Member (Quotations) of the Exchange, CardinalStone Partners Limited, through its Group Managing Director, Michael Nzewi, stated that “CardinalStone Partners Limited is pleased to announce its role as the Sole Arranger to the N5 billion Series 1 CP Issue for Zedcrest Capital Limited under its N15billion CP Programme. As the Sole Arranger, we utilised our extensive network of relationships with a diverse pool of investors including Pension Fund Administrators, Asset Managers and Insurance companies to successfully execute this transaction. This achievement is a testament to our unwavering commitment to deliver exceptional financial advisory and capital-raising solutions to our esteemed clients. We remain committed to providing innovative and tailored financial services, strengthening our position as a leading investment firm in Nigeria.”