FMDQ Approves Flour Mills of Nigeria Plc’s N32.54bn Series 5 Commercial Paper Notes

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In an announcement on Tuesday, the FMDQ Securities Exchange Limited has given the green light to the quotation of Flour Mills of Nigeria Plc’s N32.54bn Series 5 commercial paper notes. This approval comes as part of the company’s N200bn Commercial Paper (CP) issuance program on the exchange’s platform.

 

 

 

 

Flour Mills Plc had previously listed N10bn Series 13 and N20bn Series 14 Commercial Paper notes in 2020 under its N100bn CP Issuance Programme on the Exchange’s platform.

 

 

 

 

Addressing the ongoing global economic challenges posed by the COVID-19 pandemic, FMDQ emphasized its commitment to providing support to governments, corporates, and individuals through innovative and reliable capital market solutions. The Nigerian CP market remains a viable option for corporate entities seeking to raise funds for working capital needs and short-term expenditures.

 

 

 

 

 

The statement highlighted that like previous papers issued under the program and other securities on the FMDQ Exchange platform, the Flour Mills CPs will benefit from market visibility through the exchange’s website and systems. Additionally, the CPs will be included in the FMDQ Daily Quotations List, ensuring transparency, governance, and continuous information disclosure to safeguard investor interests.


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