FMDQ Exchange registers Fidson Healthcare’s N10bn commercial paper
FMDQ Securities Exchange Limited, a wholly-owned subsidiary of FMDQ Holdings Plc, has approved the registration of the Fidson Healthcare Plc N10.00 billion Commercial Paper Programme on its platform.
The Exchange said on Thursday that the milestone for the pharmaceutical manufacturing firm had seen it join other corporate institutions across various sectors of the economy to raise capital to support its business operations and enjoy the benefits of visibility, transparency and liquidity that come with FMDQ’s quotation service.
The Chief Financial Officer, Fidson Healthcare, Imokha Ayebae, was quoted as saying, “We are glad about the successful registration of Fidson Healthcare Plc’s N10.00 billion CP Programme on the FMDQ platform. This is particularly significant as it coincides with the company’s 26th anniversary on March 1, 2021.
“Since its inception in 1995, Fidson Healthcare Plc has remained committed to the growth of the healthcare sector in Nigeria. This strategic move aligns with our vision to be the preferred healthcare provider as a leading player in the pharmaceutical manufacturing industry in Nigeria and West Africa.”
According to Ayebae, the CP programme is poised to further broaden the company’s sources of capital by accessing funding from the Nigerian debt capital markets, and will also reduce its overall funding costs.
“Proceeds from this Programme will be used to meet the company’s short-term working capital requirements, which are geared towards providing quality services to our valued customers,” he added.
The Head, Investment Banking, FSDH Capital Limited, Taiwo Olatunji, said, “FSDH Capital Limited is pleased to act as Sponsor and Lead Arranger on the registration of the Fidson Healthcare Plc N10.00 billion Commercial Paper Programme on the FMDQ Platform.
“We believe that the admission of the CP on the FMDQ platform will ensure its global visibility and enhanced liquidity, which will in turn raise the corporate profile of the issuer even further ahead of tapping into other opportunities in the Nigerian capital market.”
