The FMDQ Securities Exchange Limited approved the quotation of the TrustBanc Holdings Limited ₦0.20 billion Series 1 CP under its ₦10.00 billion CP Issuance Programme, through its Board Listing and Market Committee.
This was disclosed in a statement from the FMDQ Group, noting its platform as an avenue for registration, listing, quotation, trading, and recording of financial securities in Nigeria’s financial market.
Commercial paper in Nigeria, according to the statement, serves as a channel through which corporate organisations access funds to catch up with financial shortfalls, across the scope of the Nigerian economy.
The statement said, “The Nigerian Commercial Paper (CP) market continues to provide corporate entities across the various sectors of the Nigerian economy, an avenue to raise funds to meet shortfalls in their working capital, as well as other short-term expenditures.
“Following due diligence process, FMDQ Securities Exchange Limited (“FMDQ Exchange” or “the Exchange”), through its Board Listings and Markets Committee, has approved the quotation of the TrustBanc Holdings Limited ₦0.20 billion Series 1 CP under its ₦10.00 billion CP Issuance Programme on its platform.”
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The quoted company, TrustBanc Limited Holdings, is a brand investment management organisation that furnishes clients with services that include forex trading, wealth management, brokerage, and banking.
Services provided by the firm are provided through offshoots: TrustBanc Asset Management Limited, TrustBanc Capital Limited, TrustBanc Microfinance Bank, TrustBanc Artur Limited, and Primelink Bureau De Change.
Sponsoring the company’s listing on the Exchange was a Registration Member (Quotation) of the FMDQ Exchange, UCML Capital Limited, with the firm’s listing open to investors and other interested parties through the Exchange’s website and its daily quotations list.
