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FMDQ Securities Exchange, through its board on postings and markets advisory group, has reported the citation of the Valency Agro Nigeria Limited's ₦5.12 billion arrangement one business paper (CP) under its ₦20 billion CP program on its foundation.
In encouraging the improvement of the Nigerian Debt Capital Markets (DCM), FMDQ Securities Exchange has kept on profiting its foundation just as tailor postings and citation administrations to suit the necessities of backers and enlisted individuals through imaginative and continuous help conveyance.
The Valency Agro CP debut issue comes when the Nigerian economy is perplexed with taking off food costs amid uncertain challenges.
The issue would be infused into the mid-term working capital necessities of the different horticultural produce under its portfolios like cashew, sesame, and cocoa in esteem expansion before send out.
The Executive Director, Valency Agro, Mr. Sumit Jain, said: "We are grateful to our financial backers for showing confidence in our plan to develop the farming-centered business with a reasonable intend to amplify esteem expansion and set out openwork doors in Nigeria.
"We might likewise want to compliment the endeavors made by FBNQuest Merchant Bank Limited's group to fabricate the range and FMDQ for their unrestricted help for the business."
The Head, Capital Markets, FBNQuest Merchant Bank Limited, Oluseun Olatidoye, said the firm was charmed with the effective presentation of the ₦5.12 billion Series 1 CP.
"This repeats our work to empower underserved areas to get to the obligation markets, advance their capital construction and further develop the homegrown capital business sectors.
"We are glad for the instrumental job FBNQuest Merchant Bank played in this exchange and appreciated the trust the administration of Valency Agro set on us to help them.
"With regards to its obligation to the improvement of the market, FMDQ Exchange will support its endeavors in supporting backers with custom-made financing choices to empower them to accomplish their essential destinations, extend and adequately position the Nigerian DCM for development, on the side of the acknowledgment of a worldwide serious and energetic economy.
"FMDQ Group is unflinching in its quest for the item and market development and just as partner commitment, towards making the Nigerian monetary business sectors Globally serious, operationally astounding, fluid and different, by its Gold Agenda."
One hour ago, PFA urged asset diversification to hedge market volatility.
Two hours ago, Sovereign Wealth Fund: If Nigeria were Malaysia.
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