Corporate institutions have continued to explore alternative financing options by tapping the debt capital market (DCM) to raise capital to sustain their business activities.
FMDQ Securities Exchange Limited (FMDQ Exchange) has, through its Board Listings and Markets Committee, approved the quotation of the Fidson Healthcare Plc N4.50 billion Series 1 Commercial Paper (CP) under its N10.00 billion Commercial Paper Issuance Programme on its platform.
Fidson Healthcare is a leading pharmaceutical manufacturing company that is engaged in manufacturing and sale of pharmaceutical and healthcare products in Nigeria.
With over 35 registered pharmaceutical products, across different therapeutic areas, in the pharmaceutical industry, the proceeds from this issuance will be used by Fidson Healthcare to finance its short-term working capital requirements.
Speaking on the successful issuance of the Fidson Healthcare Series 1 CP, the Chief Financial Officer, Fidson Healthcare, Mr. Imokha Ayebae, stated: “The debut CP Issuance will allow Fidson Healthcare broaden its sources of funding and lower our overall cost of borrowing.
It will also strengthen our commitment to the vision of building sustainable brands that will foster our expansion and growth plans in the pharmaceutical industry across West Africa.