FMDQ Approves Johnvents Industries N30bn CP Issuance

Kayode Tokede

The FMDQ Securities Exchange Limited (FMDQ Exchange) yesterday said it has approved the registration of the Johnvents Industries Limited N30billion Commercial Paper (CP) Programme on its platform.

A statement from the Exchange stated that Johnvents Industries Limited (Johnvents Industries) is a wholly indigenous-owned agribusiness that provides modern information and communication tools, macro-loans, and farm inputs, such as seedlings and fertilisers, to support farmers and finance their businesses in Nigeria, via its subsidiaries – Johnvents Procurements, Johnvents Cocoa Factory and Johnvents AgriTrade.

According to the statement, the CP Programme which is sponsored by United Capital PLC – a Registration Member (Quotations) of FMDQ Exchange, will avail the Issuer, Johnvents Industries, the opportunity to raise short-term finance from the Nigerian debt markets through CP issuances within the Programme limit.

As Nigeria’s largest securities exchange by market turnover, FMDQ Exchange will continue to provide a liquid, transparent and efficient market geared towards supporting the aspirations of corporates, such as Johnvents Industries, to unlock the required capital to bridge the funding gap in Nigeria’s agriculture sector.