FMDQ Securities Exchange Limited (FMDQ) through its Board Listings and Markets Committee, has announced the quotation of Dangote Cement Plc’s 15.20 billion Series 1,7.96 billion Series 2 and 17.84 billion Series 3 Commercial Papers (CPs) under its 150.00 billion Commercial Paper Issuance Programme on its platform.
Dangote Cement Plc, a subsidiary of Dangote Industries, is sub-Saharan Africa’s leading cement company, with a production capacity of 48.6 million tons per year across 10 countries.
The proceeds from Dangote Cement Series 1 – 3 CPs, which were sponsored on the exchange by Stanbic IBTC Capital Limited, would be used to support the company’s short-term working capital and funding requirements.
Daily Trust reports.
