Daraju Industries Lists N22.68bn Commercial Paper On FMDQ Exchange

FMDQ Securities Exchange Limited has approved the quotation of Daraju Industries Limited’s N4.92 billion Series one and N17.76 billion Series two Commercial Paper (CP) under its N50.00 billion CP Issuance Programme.

This approval by the Exchange’s Board Listings and Markets Committee underscores FMDQ Exchange’s unwavering commitment to providing an efficient, transparent, and well-regulated platform for short-term funding. It further reinforces the Exchange’s role as a catalyst for economic growth, supporting both issuers and investors in achieving their financial objectives.

FMDQ Exchange stated that “Daraju Industries, a Nigerian fast-moving consumer goods manufacturer with a diverse portfolio spanning personal care, home care, and oral hygiene products will strategically deploy the net proceeds from the CP issuance.

“The Programme, sponsored by FBNQuest Merchant Bank Limited with support from co-sponsors CardinalStone Partners Limited, Cordros Advisory Services Limited, and Coronation Merchant Bank Limited, is a testament to the company’s strong credit profile and market confidence.”

It added that “the proceeds will be utilised to bolster Daraju Industries’ working capital requirements, optimise its funding structure, and enhance operational efficiency, thereby positioning the company to sustain its growth trajectory, expand its market footprint, and deliver increased value to stakeholders.”

Speaking on the quotation, the Group chief operating officer of FMDQ Group, Tumi Sekoni stated, “we are pleased to welcome the quotation of Daraju Industries Limited’s Commercial Paper on FMDQ Exchange. This transaction highlights the continued depth of the Nigerian commercial paper market in supporting corporate liquidity requirements and reinforces the Exchange’s role as a trusted platform for efficient capital mobilisation.

“We remain committed to fostering a resilient and transparent market that supports sustainable growth across key sectors of the economy.”

FMDQ Exchange continues to play a transformative role in shaping Nigeria’s capital markets by leveraging advance technology to deliver a dynamic and innovative platform that promotes transparency, regulatory excellence, and market integrity.