The Board Listings and Markets Committee of the FMDQ Securities Exchange Limited (FMDQ Exchange) has approved the quotation of the Zedcrest Capital Limited N5 billion Series 1 Commercial Paper (CP) under its N15billion CP Issuance Programme.
Zedcrest Capital, the Issuer, a subsidiary of Zedcrest Group, is a proprietary and capital management firm, investing in debt and equity capital markets, business acquisitions and buyouts, the Exchange said in a statement yesterday.
To commemorate the CP quotation, FMDQ Exchange held a quotation ceremony in April, for the Issuer, represented by the Group Managing Director, Dayo Amzat, and key representatives from Zedcrest Capital.
Speaking on the regulatory approval granted the Issuer, the Managing Director, FMDQ Exchange, Ms. Tumi Sekoni, congratulated the Issuer for the successful quotation of its maiden CP.
Sekoni, who was represented by the Exchange’s Senior Vice President, Business Development Division, Ms. Jumoke Olaniyan, was quoted as saying that FMDQ Exchange’s quotation service had been tailored to provide unique opportunity for Issuers to raise funds to enable them to meet their short-term funding needs.
She assured that through the quotation, Zedcrest Capital would benefit from FMDQ Exchange’s diversified investor base, its highly efficient and responsive securities admission processes, amongst others.
Sekoni further assured the public that FMDQ Exchange would remain dedicated to advancing the growth of the Nigerian debt market by leading and supporting market-driven initiatives in order to transform it into the preferred platform for registration, listing, quotation, trading, and reporting of financial securities.
In his remarks, Zedcrest Capital’s CEO, said: “Zedcrest Capital is pleased to announce its N5 billion CP Issue under our N15 billion shelf Programme quoted on the FMDQ Exchange’s platform.
“This Programme marks our entry into the capital market as an issuer and the proceeds will be deployed to implement Zedcrest Capital’s 2023 strategic goals of digitising its consumer finance business and expanding its securities dealing offerings beyond West Africa.
“We are proud to welcome top local investors from the Pensions, Asset Management and Insurance industries as strategic partners. We are humbled by the faith placed on us, and we look forward to rewarding their trust through strong execution of our 2023 aspirations”, Amzat added.
Also, the Group Managing Director, CardinalStone Partners, the Sole Arranger of the deal, Mr. Michael Nzewi, said: “CardinalStone Partners Limited is pleased to announce its role as the Sole Arranger to the N5 billion Series 1 CP Issue for Zedcrest Capital Limited under its N15 billion CP Programme.
“As the Sole Arranger, we utilised our extensive network of relationships with a diverse pool of investors including Pension Fund Administrators, Asset Managers and Insurance companies to successfully execute this transaction.
“This achievement is a testament to our unwavering commitment to deliver exceptional financial advisory and capital-raising solutions to our esteemed clients. We remain committed to providing innovative and tailored financial services, strengthening our position as a leading investment firm in Nigeria”, Nzewi added.
