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FMDQ Approves Quotation of N10bn CardinalStone Partners C/Paper

Mr Bola Onadele Koko
Mr Bola Onadele Koko
THEWILL APP ADS 2

April 25, (THEWILL) – The Board Listings and Markets Committee of the FMDQ Securities Exchange Limited has approved the quotation of the CardinalStone Partners Limited N10 billion Series 2 Commercial Paper (CP) under its N10 billion CP Issuance Programme on the Exchange platform.

CardinalStone Partners Limited is a full-service investment banking and financial services company that provides services encompassing financial advisory, asset management, securities trading, share registration, and consumer finance on a retail and institutional scale.

The proceeds from this CP, which is co-sponsored by FBNQuest Merchant Bank Limited – lead sponsor; CardinalStone Partners Limited, EAC Advisory Limited, FCMB Capital Markets Limited and United Capital PLC – all Registration Member (Quotations) of the Exchange, will be utilised by the Issuer to support its short-term financing requirements.

The successive and successful admittance of the securities listed and quoted so far in the year 2022, following the due approvals obtained, attests to the efficient and uniquely tailored listing and quotation service offered by FMDQ Exchange – Nigeria’s largest securities exchange by market turnover (with an annual average of ₦166 trillion over the last eight years).

The quotation of this CP on the Exchange’s platform validates its conscious drive to support the goals of corporate businesses in meeting their capital raising needs and to deepen the Nigerian financial markets.

In maintaining its support for the development of the Nigerian debt capital markets (DCM), FMDQ Securities Exchange Limited uses its platform, to efficiently enhance the registration, listing, quotation and trading of debt securities in the Nigerian financial markets space.