February 5, 2017

Dufil Prima Foods quotes N4.5bn Commercial Paper Notes on FMDQ

Lagos – FMDQ OTC Securities Exchange has admitted a N4.50 billion Commercial Paper Notes (CPs) quotation by Dufil Prima Foods Plc., aimed at improving the company’s liquidity.

FMDQ said on Sunday in a statement obtained in Lagos that the CPs quotation followed the approval of the FMDQ Board Listings, Markets and Technology Committee.

According to the statement, the CPs are N20 million Series 2, N1.10 billion Series 3 and N3.30 billion Series 4 under the company’s N10 billion CP Programme.

It said that these CP notes would enhance the liquidity buffers of Dufil Prima, a key player in Nigerian fast moving consumer goods industry.

The statement added that the CPs would be availed adequate governance through their quotation on FMDQ to ensure the notes remain credible.

“These issues will also enjoy transparency through continuous disclosure of information as hosted on the quotation’s page of FMDQ’s website for the ultimate benefit of the investors and alignment of the OTC Exchange’s markets to international best practices,’’ it said.

It said that the exchange had diligently continued to support the deepening of the Nigerian Debt Capital Market (DCM) through the offerings of its unique Listings and Quotations service.

“Commendably, in consideration of the prevailing economic reality in Nigeria, the OTC Exchange keeps aligning its processes and infrastructure to further enhance the ease of raising domestic capital via accessibility to the Nigeria DCM.’’

The statement said the exchange would maintain its focus on sustaining its standard of providing quality and reliable platform with unrivalled market data and information, whilst promoting price discovery, transparency and efficiency.

It also said that FMDQ would continue to leverage on opportunities to deliver value to the OTC markets within its purview and by extension, the nation’s economy.