The Board Listings and Markets Committee of the Exchange has approved the quotation of the CardinalStone Partners Limited ₦10.00 billion Series 2 Commercial Paper, CP, under its ₦10.00 billion CP Issuance Programme on the FMDQ Exchange platform.
CardinalStone Partners Limited (the “Issuer”) 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 c. ₦166 trillion over the last eight (8) 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. FMDQ Exchange is committed to powering the growth of the Nigerian DCM by steadfastly availing its efficient platform for the registration, listing, quotation and trading of securities”, FMDQ said.
“FMDQ Group is Africa’s first vertically integrated financial market infrastructure (FMI) group, strategically positioned to provide registration, listing, quotation and noting services; integrated trading, clearing & central counterparty, settlement, and risk management for financial market transactions; depository of securities, as well as data and information services, across the debt capital, foreign exchange, derivatives and equity markets, through its wholly owned subsidiaries – FMDQ Exchange, FMDQ Clear Limited, FMDQ Depository Limited and FMDQ Private Markets Limited. As a sustainability-focused FMI group, FMDQ Group, through FMDQ Exchange, operates Africa’s premier Green Exchange – FMDQ Green Exchange – positioned to lead the transition towards a sustainable future”, FMDQ stated.