FMDQ Exchange approves quotation of CapitalSage’s N45.12bn commercial papers

FMDQ Securities Exchange Limited has approved the quotation of three Commercial Paper (CP) series issued by CapitalSage Technology Limited, together worth N45.12 billion, giving the technology firm access to the Nigerian debt capital market.

The approved papers are the N4.29 billion Series 1, the N3.33 billion Series 2 and the N37.50 billion Series 3. All were issued under CapitalSage s N75 billion CP Programme. The approval came from the Exchange s Board Listings and Markets Committee.

CapitalSage is a technology company that provides solutions for businesses and consumers in Nigeria s digital economy. It will deploy the net proceeds to meet its funding requirements and strategic initiatives, which it says will strengthen its capacity to deliver technology-driven solutions.

United Capital PLC was Lead Sponsor of the issuances. The Co-Sponsors were AIICO Capital Limited, Anchoria Advisory Services Limited, CFG Maynard Limited, Comercio Partners Capital Limited, Cordros Advisory Services Limited, Coronation Merchant Bank Limited, FCMB Capital Markets Limited, Investment One Financial Services Limited, Quantum Zenith Capital & Investments Limited and Regius Capital Limited. All are Registration Members (Quotations) of the Exchange.

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Group Chief Operating Officer of FMDQ Group PLC, Ms. Tumi Sekoni, said the quotation showed the continued relevance of the debt capital market as a channel for businesses to access short-term funding.

At FMDQ Exchange, we remain committed to providing a transparent, efficient and credible platform that enables businesses to access capital, she said, adding that this would help firms strengthen operations and contribute to economic growth.

FMDQ Group describes itself as Africa s first vertically integrated financial market infrastructure (FMI) group. Its services span registration, listing, quotation and noting; trading platforms; clearing, central counterparty and settlement; securities depository; and market data. These cover the debt, foreign exchange, derivatives and equity markets. Its subsidiaries are FMDQ Exchange, FMDQ Clear Limited, FMDQ Depository Limited and FMDQ Private Markets Limited. Through FMDQ Exchange, the Group also operates FMDQ Green Exchange.

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