TrustBanc Holdings lists first commercial paper on FMDQ Exchange
FMDQ Securities Exchange Limited announced on Friday that it has, through its Board Listings and Markets Committee, approved the quotation of the TrustBanc Holdings Limited N0.20 billion Series 1 CP under its N10.00 billion CP Issuance Programme on its platform.
It said the quotation of the maiden CP series, following the successful registration of the CP programme in April 2021, was a further validation of FMDQ Exchange as the choice platform for the registration, listing, quotation, trading and recording of financial securities in the Nigerian financial market.
The Exchange said in a statement that the Nigerian commercial paper market continued to provide corporate entities across the various sectors of the economy, an avenue to raise funds to meet shortfalls in their working capital, as well as other short-term expenditures.
TrustBanc Holdings Limited is a registered brand investment management firm that offers an array of financial services such as banking, brokerage, forex trading, and wealth management.
FMDQ Exchange said the proceeds from the quotation of the CP would be used to fund the Issuer’s short-term financing requirement.
It said the TrustBanc Holdings CP, which was sponsored by UCML Capital Limited, a registration member (quotation) of FMDQ Exchange, would be made visible to investors and other market participants through the FMDQ Exchange’s website and systems, as well as FMDQ’s Daily Quotations List.
It said, “Investors shall also benefit from the continuous information disclosure and transparency availed to the CP.
“FMDQ Exchange is committed to remaining innovative and providing timely and cost-efficient services to support its stakeholders, particularly issuers and investors, towards accessing capital, managing risks and invariably, improving their corporate profile.”
