In fostering the development of the Nigerian Debt Capital Markets (DCM), FMDQ Securities Exchange Limited has continued to avail its credible and efficient platform as well as tailor its listings and quotations services to suit the needs of issuers and registration members (sponsors of the issue on FMDQ Exchange) through innovative and uninterrupted service delivery.
Following the due diligence process, the Exchange, through its board listings and markets committee, announced the approval of the quotation of the Valency Agro Nigeria Limited N5.12 billion Series 1 Commercial Paper (CP) under its N20 billion CP Programme on its platform.
Read Also: Connect Marketing Services reposition businesses for growth
The Valency Agro Nigeria Limited CP debut issue comes at a time where the Nigerian economy is bedevilled with soaring food prices, amidst compounding challenges of insecurity. The agricultural sector and its attendant transformation agenda have never been more important in driving increased and sustainable production of agricultural products as well as the derived foreign earnings through exports.
The proceeds from this issue of the CP will be applied by Valency Agro towards meeting the mid-term working capital requirements of the various agricultural produce under its portfolio such as cashew, sesame, cocoa and in value addition prior to export.
