FMDQ Securities Exchange Limited (FMDQ) has announced the admission for listing on its platform, the Accelerex SPV PLC N2.28 billion Series 1 Fixed Rate Bond under its N20 billion Bond Issuance Programme.
Accelerex SPV Plc is a special purpose funding vehicle established by Global Accelerex Limited to raise capital from the debt markets through the listing of debt securities. Global Accelerex Limited is a provider of electronic payment and business management solutions in Nigeria and is certified by the Central Bank of Nigeria as a Payment Terminal Service Provider and Payment Solution Service Provider, to deliver innovative technology solutions in a secure and reliable manner to businesses and consumers across channels.
What the company is saying
According to the company, the proceeds generated from the Accelerex SPV Plc Series 1 Bond, which is sponsored by FBNQuest Merchant Bank Limited (Lead Sponsor), Greenwich Merchant Bank Limited and Renaissance Securities (Nigeria) Limited – all Registration Member (Listings) of the Exchange, will be used by the Issuer to fund the purchase of terminals across Nigeria and offset the costs of the Company’s capital expenditure, amongst others.
What you should know
- In support of its mandate to align the Nigerian debt markets with international best practices and standards, FMDQ Exchange said it will continue to provide a dynamic and innovative platform for capital formation, offering institutions the support required to impact their businesses, sectors and the overall economy.
Another sole listing on FMDQ. This is the time to look at the pay versus performance decisions of the NGX. The Exchange of choice has gradually shifted to FMDQ. NGX is still deceiving itself and sharing generous bonuses to itself. Investors in the stocks are left scampering for safety. FGN should concentrate its bond listing on FMDQ to save annual listing cost as most companies are doing.