FMDQ Securities Exchange Limited has approved the registration of the Precise Lighting Limited N3.50 billion Commercial Paper (CP) Programme on its platform.
FMDQ in a statement said “this CP Programme, sponsored by Afrinvest Capital Limited, positions the issuer to efficiently raise short-term finance from the Nigerian debt markets through CP issues, within the approved CP Programme limit.
Speaking on the successful registration of the CP Programme, the chief executive officer, Precise Lighting, Stephen Onaola, stated “we are pleased to announce the approval and registration of our N3.50 billion CP Programme by FMDQ Exchange.
“This significant milestone demonstrates Precise Lighting’s commitment to enhancing its financial flexibility, diversifying funding sources, and supporting its operational and growth objectives.”
He explained that “with access to the capital market, we are well-positioned to secure the liquidity and funding required to optimise our working capital and sustain our growth trajectory.”
According to Onaola, for over a decade, Precise Lighting has proudly served the Nigerian market, redefining the way homes and businesses illuminate their spaces. From stunning chandeliers to innovative LED and energy efficient lighting solutions, we have consistently helped transform spaces into havens of comfort and inspiration. Now, we are embarking on a new journey and inviting investors to join us in fuelling our continued growth.
Onaola stated, “We extend our appreciation to FMDQ Exchange for approving this Programme and the vital role the Exchange plays in fostering a dynamic, transparent, and inclusive capital market. As we connect with investors through this Programme, we look forward to building enduring partnerships that empower us to sustain our legacy and illuminate even more Nigerian spaces with style, quality, and innovation.”
Also, managing director of Afrinvest Capital, Suru Daniels said, “This approval underscores Precise Lighting’s robust financial standing, sound management practices, and strategic foresight.
“It also reflects FMDQ Exchange’s dedication to providing a transparent and efficient platform that enables businesses to access the capital market with ease.”
He noted that “The CP Programme is a critical component of the Company’s strategy, allowing it to strengthen its position in the lighting industry while effectively addressing its short-term financing needs. Afrinvest remains committed to partnering with Precise Lighting as it continues to execute its growth initiatives and meet the dynamic demands of its clients. We look forward to supporting the Company’s continued success and long-term sustainability.”
FMDQ said the timely admission of this CP issue, along with other securities attests to the efficiency of the Exchange’s Securities Admission Service, saying that “as with all other securities listed and quoted on the Exchange’s platform, this CP will benefit from global visibility via the Exchange’s website and systems, transparency through inclusion in the FMDQ Daily Quotations List, governance and continuous information disclosure to protect investors’ interests, credible price formation, among other benefits.”
