February 13, (THEWILL) – FMDQ Securities Exchange Limited through its Board Listings and Markets Committee, has approved the registration of the Providus Bank Limited N100 billion Commercial Paper (CP) Programme on its platform.
The registration of the programme strategically positions Providus Bank to raise short-term finance from the Nigerian DCM easily, through CP issues within its CP Programme and quote same on FMDQ Exchange for visibility of the issue and desired transparency for the investors.
Providus Bank is a Nigerian financial services provider, licensed as a commercial bank to provide banking, investment and wealth management services to individuals and businesses. The registration of this CP programme, sponsored by Greenwich Merchant Bank Limited – a registered member (Quotations) of FMDQ Exchange, validates the Exchange’s conscious drive to support the capital market needs of corporates and governments and to further deepen the Nigerian financial markets and ultimately, the nation’s economy.
FMDQ Exchange said it will continue to work collaboratively with market stakeholders to align the debt capital markets with international standards and will, through f product and service innovation and the championing of key market development initiatives, take commendable steps to ensure that growth and development opportunities abound for the markets under its purview.
In a related development, FMDQ, through its wholly owned subsidiary, FMDQ Securities, has approved for listing on its platform, the one billion units of N1.00 each Emerging Africa Money Market Fund, the one billion units of N1.00 each Emerging Africa Bond Fund, the twenty thousand units of $100.00 each Emerging Africa Eurobond Fund, and the five hundred million units of N1.00 each Emerging Africa Balanced Diversity Fund of Emerging Africa Asset Management Limited (EAAML).
The firm is a subsidiary of the Emerging Africa Group, which provides portfolio management services to individual and institutional investors globally.
Speaking on the successful listing of the Funds, the Managing Director, EAAML, Ms. Ada Ijara, commented that “the Emerging Africa Group is pleased to announce the listing by Emerging Africa Asset Management Limited of its bouquet of four Mutual Funds on FMDQ Exchange’s platform to give the Funds the desired visibility and transparency provided by the platform. The four Mutual Funds, which are duly registered by the Securities and Exchange Commission (SEC) provide corporate and individual investors with opportunities to invest in a wide range of underlying assets such as quoted equity stocks, bonds, eurobonds, treasury bills and other fixed income instruments.
“The four Mutual Funds offer great value to the investing public, catering to their varying risk appetites and investment preferences. We are grateful to FMDQ Exchange for providing benefits to the Funds listed on its platform, including but not limited to, global visibility through the dedicated ‘Funds’ page on the Exchange’s corporate website and price transparency to the funds through their inclusion in the FMDQ Daily Quotations List.”
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