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Friday, March 05, 2021 / 02:25 PM / By FMDQ / Header Image
Credit: Fidson Healthcare
Committed to the
continuous development of the Nigerian financial market, in collaboration with
market stakeholders, FMDQ Securities Exchange Limited ("FMDQ Exchange" or "The
Exchange"), a wholly owned subsidiary of FMDQ Holdings PLC ("FMDQ Group" or "FMDQ"),
has through its Board Listings, Markets and Technology Committee, approved the Registration
of the Fidson Healthcare PLC N10.00
billion Commercial Paper ("CP") Programme on its platform.
This milestone
for Fidson Healthcare PLC ("Fidson"), a leading pharmaceutical manufacturing
company in Nigeria, has seen it join other corporate institutions across
various sectors of the economy, to not only raise capital to support its
business operations, but to also enjoy the benefits of visibility, transparency
and liquidity that come with FMDQ's Quotation Service. Fidson, which runs a 'Current Good Manufacturing Practice' (cGMP) Compliant facility, is crafting an
exemplary architecture for the Nigerian pharmaceutical industry by playing
defining roles in the emergence of a new generation of industry players, as the
importance of the pharmaceutical industry to the prosperity of the global
economy cannot be overemphasised.
In a statement
provided by the Chief Financial Officer, Fidson Healthcare PLC, Imokha Ayebae,
he said, "We are glad about the successful registration of Fidson Healthcare
PLC's N10.00 billion CP Programme on the FMDQ platform. This is
particularly significant as it coincides with the company's 26th
anniversary on March 1, 2021. Since its inception in 1995, Fidson Healthcare
PLC has remained committed to the growth of the healthcare sector in Nigeria.
This strategic
move aligns with our vision to be the preferred healthcare provider as a leading
player in the pharmaceutical manufacturing industry in Nigeria and West Africa.
The CP Programme, which is poised to further broaden the company's sources of
capital by accessing funding from the Nigerian debt capital markets, will also
reduce our overall funding costs. Proceeds from this Programme will be used to
meet the company's short-term working capital requirements which are geared
towards providing quality services to our valued customers".
Also, the
Sponsor to the Issue on FMDQ Exchange, FSDH Capital Limited, through their
Head, Investment Banking, Taiwo Olatunji, stated that, "FSDH Capital Limited is
pleased to act as Sponsor and Lead Arranger on the registration of the Fidson
Healthcare PLC N10.00 billion Commercial Paper Programme on the FMDQ Platform. We
believe that the admission of the CP on the FMDQ platform will ensure its
global visibility and enhanced liquidity, which will in turn raise the
corporate profile of the issuer even further ahead of tapping into other
opportunities in the Nigerian capital market".
As an Exchange
positioned to bring about revolutionary changes in the Nigerian capital market,
FMDQ Exchange, through the collective efforts of its varied stakeholders shall
continue to deliver value-adding initiatives, ranging from the continuous
upgrade of its Listings & Quotations Service, to product & market
innovations, amongst others. The registration of the Fidson Healthcare PLC CP
Programme, as the third on the Exchange's platform in 2021, validates its
conscious drive to support the goals of corporate businesses and to deepen the
Nigerian capital market by steadfastly availing its efficient platform for the
registration, listing and quotation of debt securities.
FMDQ Group is Africa's first vertically integrated
financial market infrastructure (FMI) group providing a one-stop platform for
the seamless and cost-efficient execution, risk management, clearing,
settlement and depository services, as well as data and information services
across the debt capital, foreign exchange and derivatives markets in Nigeria.
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