FMDQ Securities Exchange Limited, a wholly-owned subsidiary of FMDQ Holdings Plc has approved the registration of the Fidson Healthcare ₦10 billion Commercial Paper Programme on its platform.
This was to demonstrate its commitment to the continuous development of the Nigerian financial market, in collaboration with market stakeholders.
FMDQ, in a statement made available to financial journalists said this milestone for Fidson Healthcare had seen it join other corporate institutions across various sectors of the economy, and not to only raise capital in support of 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’ 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.
According to the Chief Financial Officer, Fidson Healthcare Plc, Imokha Ayebae, “We are glad about the successful registration of Fidson Healthcare PLC’s ₦10billion CP Programme on the FMDQ platform.”
He said 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. 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”. He said.
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 ₦10.00 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.”