Guinness Nigeria to list tranches of N10bn Commercial Paper on FMDQ OTC board

Guinness Nigeria Plc announced on Thursday that it will list portions of N10bn commercial paper it issued on 4th November 2015 on the FMDQ OTC Securities exchange on 18th February 2016.

In a statement released by the company to the Nigerian Stock Exchange, it said that the planned listing follows the successful issuance of the 182 day series II and 268 day series III issues on November 4, 2016, which consists of N7.23bn series II and N2.77bn series III commercial papers respectively.

The company said that it decided to list the commercial papers on the FMDQ OTC exchange so as to give it more visibility, which in turn will lead to increased demand for future issues.

FMDQ is a securities exchange where publicly traded companies can raise funds for their businesses.

Guinness Nigeria recently released its financial results for the second quarter (Q2) 2015, which showed a 66% net profit decline when compared to Q2 in 2014.

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