FMDQ Securities Exchange Ltd has approved the quotation of TrustBanc Holdings Ltd., N0.20 billion series 1 Commercial Paper (CP), under its N10 billion CP issuance programme.
The company in a statement on Friday explained that TrustBanc Holdings is a registered brand investment management firm that offers an array of financial services such as banking, brokerage, foreign exchange trading, and wealth management, through its subsidiaries.
It noted that the CP was approved by the FMDQ’s board Listings and Markets Committee after due diligence process.
The statement explained that the maiden quotation followed the successful registration of the CP programme in April 2021.
According to the statement, the proceeds from the quotation of the CP will be used to fund the issuer’s short-term financing requirement. FMDQ Group is Africa’s first vertically integrated financial market infrastructure group, strategically positioned to provide registration, listing & quotation services and seamless trading, amongst others