FMDQ Securities Exchange Limited has approved the quotation of Ojaja Pan Africa Limited’s N4.80 billion Series 1, N1.36 billion Series 2, and N19.37 billion Series 3 Commercial Papers (CPs) under its N100billion CP Issuance Programme on its platform.
The approval by the Exchange’s Board Listings and Markets Committee, further expands Ojaja Pan Africa’s access to Nigeria’s debt capital markets and reflects the growing participation of diversified corporates in the short-term funding landscape.
Ojaja Pan Africa Limited is a diversified conglomerate with interests in real estate, agriculture, manufacturing, mining, tourism, hospitality and retail across Africa.
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Having previously accessed the Exchange’s platform to raise short-term capital, the Issuer has established a track record of meeting its obligations as they fall due.
The net proceeds from this CP issuance, sponsored by Comercio Partners Capital Limited, a Registration Member (Quotations) of FMDQ Exchange, will support the Issuer’s working capital requirements and the continued expansion of its business interests across its operating segments.
Commenting on the CP quotation, Tumi Sekoni, group chief operating officer, FMDQ Group Plc stated, “Ojaja Pan Africa’s return to the CP market at this larger scale underscores the continued interest in well-structured corporate issuances and the important role of the CP market in meeting short-term funding needs. FMDQ Exchange remains…
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Read Full Article by Iheanyi Nwachukwu at businessday.ng
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