September 23, 2023

FMDQ Exchange Admits Coleman Technical Industries Limited Series 3 & 4 Commercial Papers on its Platform

2 min read

As part of its conscious drive to support the goals of corporate businesses and to deepen the Nigerian financial markets, FMDQ Securities Exchange Limited (“FMDQ Exchange” or “the Exchange”) has approved the quotation of the Coleman Technical Industries Limited ₦2.40 billion Series 3 and ₦3.65 billion Series 4 Commercial Papers (CPs) under its ₦20.00 billion CP Issuance Programme on its platform. The successful quotation of these CPs is testament to the opportunities which the Nigerian debt capital market (DCM) avails to corporates in diverse business areas.

Coleman Technical Industries Limited (“CTIL”) is West Africa’s largest producer and distributor of electrical wires and cables. The quotation of these CPs which is sponsored by Coronation Merchant Bank Limited, Afrinvest Capital Limited, CardinalStone Partners Limited, FSDH Capital Limited and SFS Financial Services Limited – all Registration Member (Quotations) of FMDQ Exchange, strategically positions CTIL to raise short-term finance easily and quickly from the Nigerian DCM. As is tradition, CPs quoted on FMDQ Exchange benefit from the commendable and efficient CP quotation process, in addition to continuous provision of invaluable information and price formation as part of the Exchange’s commitment to organise, govern and enforce transparency in the Nigerian capital market space.

FMDQ Exchange will continue to lead the revolution in the development of the Nigerian DCM by providing credible market structures to corporate and commercial businesses with the opportunities to meet their short-term funding requirements, whilst building their profiles in the Nigerian DCM space. FMDQ Exchange remains positive about the possibilities of the Nigerian DCM and will continue to implement, with the support of its stakeholders, initiatives that will improve and support economic growth and development for the benefit of the citizenry.

FMDQ Group PLC (“FMDQ Group”) is Africa’s first vertically integrated financial market infrastructure group, strategically positioned to provide registration, listing, quotation and noting services; integrated trading, clearing & central counterparty, settlement, and risk management for financial market transactions; depository of securities, as well as data and information services, across the debt capital, foreign exchange, derivatives and equity markets, through its wholly owned subsidiaries – FMDQ Exchange, FMDQ Clear Limited, FMDQ Depository Limited and FMDQ Private Markets Limited. As a sustainability-focused FMI group, FMDQ Group, through FMDQ Exchange, operates Africa’s premier Green Exchange – FMDQ Green Exchange – positioned to lead the transition towards a sustainable future.

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