FMDQ Securities Exchange Limited has approved the quotation of three commercial papers issued by CapitalSage Technology Limited, raising a total of N45.12bn under the technology company’s N75bn commercial paper programme.
The approved papers comprise N4.29bn Series 1, N3.33bn Series 2 and N37.50bn Series 3, providing CapitalSage with access to short-term funding through Nigeria’s debt capital market.
The proceeds will be used to meet the company’s funding requirements and support strategic initiatives as it continues to develop technology-driven solutions for businesses and consumers within Nigeria’s digital economy.
The approval reinforces the role of the domestic debt market in helping companies secure funding for their operations and growth plans without relying solely on traditional bank lending.
Commenting on the development, the Group Chief Operating Officer of FMDQ Group Plc, Tumi Sekoni, said the quotation demonstrated the continued importance of Nigeria’s debt capital market as a source of short-term financing for businesses.
She said FMDQ Exchange remained committed to providing a transparent, efficient and credible platform through which companies could access capital, strengthen their operations and contribute to economic development.
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According to Sekoni, the Exchange’s services are designed to facilitate capital formation, improve access to financial markets and help businesses optimise their funding opportunities.
She added that the approval by the Exchange’s Board Listings and Markets Committee reinforced FMDQ’s position as a platform for short-term capital market financing.
The quotation also provides CapitalSage with an avenue to raise funds for its business objectives through the Nigerian debt market.
The commercial papers were sponsored by United Capital Plc as lead sponsor, alongside AIICO Capital Limited, Anchoria Advisory Services Limited, CFG Maynard Limited, Comercio Partners Capital Limited, Cordros Advisory Services Limited, Coronation Merchant Bank Limited, FCMB Capital Markets Limited, Investment One Financial Services Limited, Quantum Zenith Capital & Investments Limited and Regius Capital Limited as co-sponsors.
All the sponsoring firms are registration members for quotations at FMDQ Exchange.
About the Author
Cecilia Attah is a tech analyst with a degree from Benue State University. She covers tech news and startups at TechRegard with a focus on how technology is transforming Africa and shaping the global landscape.
