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  • Business - Companies
  • Updated: March 04, 2021

FMDQ Approves Fidson Healthcare N10bn Commercial Paper Registration

FMDQ Securities Exchange Ltd has approved the registration of the Fidson Healthcare Plc N10 billion Commercial Paper (CP) pmme on its platform.

The Chief Financial Officer, Fidson Healthcare, Mr Imokha Ayebae, disclosed this in a statement made available to the News Agency of Nigeria (NAN) on Thursday in Lagos.

Ayebae said yhe successful registration was done through the FMDQ Exchange Board Listings, Markets and Technology Committee.

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He said that the proceeds of the CP programme would be used to enhance the company’s short-term working capital requirements geared toward providing quality services to its valued customers.

“We are glad about the successful registration of the N10 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 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,” he said.

Mr Taiwo Olatunji, Head, Investment Banking, FSDH Capital Ltd., sponsor of the N10 billion issue on FMDQ Exchange, said that the step would ensure global visibility of Fidson.

Olatunji said: “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.

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