In consolidation of the value-add derived by government and corporate entities in the past year from its credible and efficient platform, FMDQ OTC Securities Exchange (“FMDQ” or “the OTC Exchange”) has diligently continued to support the deepening of the Nigerian debt capital market (DCM) through the offerings of its unique Listings and Quotations service. Commendably, in consideration of the prevailing economic reality in Nigeria, the OTC Exchange keeps aligning its processes and infrastructure to further enhance the ease of raising domestic capital via accessibility to the Nigeria DCM.
Consequently, following the approval of the FMDQ Board Listings, Markets and Technology Committee, the OTC Exchange has admitted the quotation of the Dufil Prima Foods PLC ₦20,000,000.00 Series 2, ₦1,103,830,000.00 Series 3 and ₦3,304,900,000.00 Series 4 Commercial Paper (CP) Notes under its ₦30,000,000,000.00 CP Programme.
“These CP notes, which will enhance the liquidity buffers of Dufil Prima, a key player in the Nigerian fast moving consumer goods industry, will be availed adequate governance, through their quotation on FMDQ, to ensure the notes remain credible.
“These issues will also enjoy transparency through continuous disclosure of information as hosted on the quotation’s page of FMDQ’s website, for the ultimate benefit of the investors and alignment of the OTC Exchange’s markets to international best practices.”
According to the report, with activities for the year fully taking off, FMDQ’s goal of making the OTC markets globally competitive remains valid, as the OTC Exchange maintains its focus on sustaining its standard of providing a quality and reliable platform, with unrivalled market data and information, whilst promoting price discovery, transparency and efficiency. Through consistent collaboration with its stakeholders, FMDQ shall continue to leverage on opportunities to deliver value to the OTC markets within its purview and by extension, the nation’s economy, it was added.