[MONEY] Guinness Nigeria Launches N10billion Commercial Paper On FMDQ

Guinness Nigeria Plc plans to list N10 billion series 2 and 3 commercial paper issues on the FMDQ platform. N7.23bn series 2 and N2.77bn series 3 commercial papers will be listed on the FMDQ OTC securities exchange on the 18th of February 2016.

FMDQ is a debt-focused securities exchange with a commitment to facilitate growth and development in the financial market through its efficient platform for the registration, listing, quotation and valuation of bonds.

This listing follows the successful issuance of the 182day series 2 and 268 day series 3 issues on the 4th of November 2015.

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The company said that its decision to list on the FMDQ is to increase its visibility which will in turn lead to increased demand of future issues.

Guinness Nigeria had earlier this month released its financial results for the 2nd quarter ended 31st December 2015, with profits nosediving by 66% from N3.3 billion in Q2’14 to N1.1 billion in Q2’15.

Guinness share price was N119 down 0.25% as at press time.