MTN Nigeria readmitted into FMDQ Exchange to quote additional Commercial Papers
MTN Nigeria Plc, one of Nigeria’s leading telecommunications companies, gets approval and admission into FMDQ Securities Exchange Limited to quote Commercial Papers (CPs).
FMDQ Securities Exchange Limited announced this approval affirming the quotation of the MTN Nigeria N19.77 billion Series 3 and N53.74 billion Series 4 Commercial Papers under its N200.00 billion Commercial Paper Issuance Programme on its platform.
This move is in line with efforts to commit to providing a reliable and credible platform to support capital formation.
Speaking on the recent CP quotation, the Chief Financial Officer, MTN Nigeria, Mr. Modupe Kadiri, stated: “MTN Nigeria is very pleased with the success of our series 3 and Series 4 CP issuances, which further diversify our funding sources, help to optimise our finance cost and strengthen the Nigerian financial markets. The issuance was well received by the market, with strong participation from a diverse group of investors, signifying the market’s continued confidence in our business. By quoting these CPs on FMDQ Exchange, we are able to provide investors with a strong platform for liquidity and price discovery. Proceeds from the issuance will be deployed towards the company’s working capital and general corporate purposes.”
FMDQ Group is Africa’s foremost vertically integrated financial market infrastructure group, strategically positioned to provide registration, listing & quotation services, seamless trading, clearing, settlement, risk management, and depository of financial market transactions, as well as data and information services, across the debt capital, foreign exchange, derivatives and equity markets, through its wholly owned subsidiaries .
It has the mandate to organize and govern market with specific focus to promote credibility and transparency in the Nigeria debt capital market arena while ensuring competitiveness, excellence and innovation.
MTN Nigeria is Nigeria’s premier provider of connectivity, communication and collaboration solutions, and the largest privately owned mobile operator in Africa, Europe, and the Middle East with over sixty-one (61) million subscribers with national coverage and a fibre network that reaches every state in the nation.
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