FMDQ Exchange admits Coronation Merchant Bank’s Commercial Papers on its platform

FMDQ Securities Exchange Limited, in providing the choice platform for the registration, listing, quotation, trading and recording of financial securities, approved the quotation of the Coronation Merchant Bank Limited N0.71 billion Series 13 and N14.13 billion Series 14 Commercial Papers (CPS) in March 2021, and the N1.41 billion Series 15 and N20.19 billion Series 16 CPS in May 2021, both under its N100billion CP Programme, on its platform. The net proceeds from these CPS will support the Issuer’s short term funding requirements.

Coronation Merchant Bank Limited provides merchant banking services, which include assets/fund management services, securities trading, treasury services, investment banking and corporate banking services to corporate institutions, institutional investors and high net worth individuals. The Bank aims to place its clients ahead of the curve in their sphere of operations and by so doing, deliver sustainable value to its shareholders whilst positively impacting on the Nigerian economy.

Commenting on the completion of the commercial papers quotation, the MD/CEO, Coronation Merchant Bank Limited, Banjo Adegbohungbe, stated, “we are delighted at the successful issuance and subsequent quotation of the Bank’s N0.71 billion Series 13 and N14.13 billion Series 14 Commercial Papers. This transaction further underscores the confidence of investors in our brand and entrenches our continuous leadership in the use of market instruments to create shared prosperity for all stakeholders”.

The timely admission of these CP issues, and in general, all securities on FMDQ Exchange, is a testament of the efficiency of the FMDQ Exchange securities quotation process. As is tradition for FMDQ Exchange, the Coronation Merchant Bank CPS, which were sponsored on the Exchange by Chapel Hill Denham Advisory Limited, a Registration Member (Quotation) of FMDQ Exchange, shall be availed global visibility through the Exchange’s website and systems, governance and continuous information disclosure to protect investors’ interest, credible price formation, amongst other benefits derived from the FMDQ Exchange platform.