FMDQ accepts Guinness Nigeria N10bn Commercial Papers listing

FMDQ OTC Securities Exchange, said on Thursday it has admitted Guinness Nigeria Plc N10bn Commercial Paper listing on its platform.

The company (FMDQ) said in a statement released to the News Agency of Nigeria (NAN) in Lagos, that the Board Listings, Markets and Technology Committee of FMDQ granted its approval for the brewer to be quoted on its platform after having met all the requirements.

The statement quoted Ms. Tumi Sekoni, Vice President & Divisional Head, Marketing & Business Development at FMDQ, as saying that Guinness Commercial Papers would gain access to the full complement of FMDQ quotation service “which includes but is not limited to global visibility, transparency and continuous disclosure of relevant information.”

For his part, the Managing Director of Guinness Nigeria, Mr. Peter Ndegwa, was quoted by the statement as saying, the company (Guinness) was pleased with the successful quotation of the CPs and the support received from FMDQ and all advisers.

“The quoting of this CP has allowed us to successfully diversify our short-term funding sources at a reduced cost while delivering value to our shareholders.

“We will continue to access the CP markets for optimal funding as ideal windows open for Guinness Nigeria to access funds from a varied pool of investors,” Ndegwa said.

NAN reports that FMDQ, a securities exchange and self-regulatory organization, registered by the Securities and Exchange Commission (SEC), provides a platform for listing, quoting and trading of fixed income securities and currency products.

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