FMDQ Securities Exchange Limited (FMDQ Exchange) has approved the registration of the Hartleys Supermarket & Stores Limited N5.00 billion Commercial Paper (CP) Programme and quotation of the N0.62 billion Series 1 CP under its N5.00 billion CP Issuance Programme on its platform.
The Exchange, in a statement, indicated that in order to sustain their business operations in the increasing challenging environment, many companies had been exploring alternative financing options availed by the debt capital market.
It maintained that access to capital remained important for corporates, as capital is required to meet short-term obligations, especially for working capital, business expansion and other debt obligations.
The FMDQ Exchange further disclosed that the quotation of the Series 1 CP, which is sponsored by United Capital Plc – a Registration Member (Quotations) of FMDQ Exchange, would strategically positions the Issuer to raise funds for its general corporate purposes from the Nigerian debt markets.
According to the debt market supervisory institution, through the quotation, the Issuer will not only benefit from the Exchange’s robust platform but also gain access to a wide range of qualified institutional investors.
It further clarified that the registration of the Hartleys Supermarket & Stores Limited CP Programme and the subsequent quotation of its Series 1 CP, validated its drive to support the goals of businesses and to deepen the Nigerian debt markets by availing its platform for the registration, listing, and quotation of debt securities.
Hartleys Supermarket & Store Limited (the Issuer), which opened its first store in 2018, has grown over the years from its in-store services to home delivery services on a wide range of product categories, including Confectionery, Bakery, Butchery, Fresh Produce, Wines and Spirits, Deli, Personal Care, Household products, amongst others.
