FMDQ Exchange approves Providus Bank’s 100 billion commercial paper
Feb. 13 (THEWILL) – FMDQ Securities Exchange Limited, through its Listings and Markets Committee, has approved the listing of Providus Bank Limited’s N100 billion Commercial Paper (CP) program on its platform.
Program registration strategically positions Providus Bank to easily raise short-term funding from the Nigerian DCM, through CP issuances in its CP program and quote on FMDQ Exchange for issuance visibility and transparency desired by investors.
Providus Bank is a Nigerian financial services provider, licensed as a commercial bank to provide banking, investment and wealth management services to individuals and businesses. The registration of this CP Program, sponsored by Greenwich Merchant Bank Limited – a Registered Member (Quotations) of the FMDQ Exchange, validates the Exchange’s conscious desire to meet the needs of corporate and government capital markets and further deepen the Nigerian financial markets and ultimately the nation’s economy.
FMDQ Exchange said it will continue to work collaboratively with market participants to align debt capital markets with international standards and that it, through product and service innovation and the promotion of ‘key market development initiatives, will take commendable steps to ensure that opportunities for growth and development abound. for markets under its jurisdiction.
In a related development, FMDQ, through its wholly owned subsidiary, FMDQ Securities, has approved the listing on its platform of N1.00 billion units of each Emerging Africa Money Market Fund, billion units of N1.00 of each emerging Africa money market fund. Bond Fund, the twenty thousand units of $100.00 each Emerging Africa Eurobond Fund and the five hundred million units of N1.00 each Emerging Africa Balanced Diversity Fund of Emerging Africa Asset Management Limited (EAAML).
The company is a subsidiary of the Emerging Africa group, which provides portfolio management services to individual and institutional investors worldwide.
Speaking on the successful listing of the funds, the Managing Director of EAAML, Ms. Ada Ijara, said that “The Emerging Africa Group is pleased to announce the listing by Emerging Africa Asset Management Limited of its bouquet of four mutual funds. on the FMDQ Exchange platform. giving the Funds the desired visibility and transparency thanks to the platform. The four mutual funds, duly registered by the Securities and Exchange Commission (SEC), offer individual investors and companies the ability to invest in a wide range of underlying assets such as listed equities, bonds, Eurobonds, treasury bills and other fixed income instruments.
“The four mutual funds offer great value to the investing public, catering to their diverse risk appetites and investment preferences. We are grateful to FMDQ Exchange for providing benefits to the funds listed on its platform, including, but not limited to, global exposure through the dedicated “funds” page on the company’s website and the transparency of fund prices thanks to their inclusion in the FMDQ Daily List of quotes.