FMDQ Securities Exchange Ltd., has approved the quotation of the Fidson Healthcare Plc N4.50 billion Series 1 Commercial Paper (CP) under its N10 billion CP issuance Programme.
Fidson Healthcare is a leading pharmaceutical manufacturing company that is engaged in manufacturing and sale of pharmaceutical and healthcare products in Nigeria.
The statement by FMDQ noted that the issuance was approved by its Board Listings and Markets Committee.
The statement explained that the maiden quotation followed the successful registration of the CP programme in April 2021.
It quoted Mr Imokha Ayebae, the Chief Financial Officer, Fidson Healthcare, as saying that, the proceeds would help the company to broaden its sources of funding.
Ayebae added that it would be used to lower the company’s overall cost of borrowing and build sustainable brands that would foster expansion and growth plans across West Africa.
FMDQ Group is Africa’s first vertically integrated financial market infrastructure group, strategically positioned to provide registration, listing & quotation services and seamless trading, amongst others.