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By Nkiruka Nnorom
F MDQ OTC Securities Exchange yesterday listed the commercial papers of Nang billion Dangote Cement Plc, the PCs, the largest CP program on the Nigeria's debt capital market on
CP is a double-bidding issue under the company's 150 billion NTA capitalization program established in November 2017.
CP includes issues of 12, NZ 04 billion and N $ 37.9 billion program N150 billion CP
At the registration ceremony in Lagos, Bola Onadele Koko, General Manager / General Manager, FMDQ, said that the various efforts of the FMDQ to deepen the domestic debt capital market are yielding results. The Dangote Cement CP Program List, the largest PC program on the market, is a testament to this success.
He said: "The inscription could not be better because it was almost four years ago that I and some of our members traveled to Dangote Cement for the first time, so the FMDQ was relatively unknown on the market and there was no PC market and we wanted to make the PC market transparent and credible.In reality, it is now a PC market. "
He expressed his optimism that Dangote Cement would increase listing by listing a dollar-denominated CP on the FMDQ platform
Also speaking, Engr. Joseph Makoju, CEO of Dangote Cement, congratulated the FMDQ for organizing the registration, saying that since its creation, the FMDQ has contributed greatly to the development of the domestic debt capital market in Nigeria. .
"In this process, you have been known to promote transparency, governance, integrity and efficiency in the commercial paper market and you have succeeded in encouraging the publication of commercial paper on the domestic market, issuers like Dangote Cement to explore this alternative source of financing on the Nigerian capital market for the first time, "he said.
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