FMDQ Securities Exchange Limited (“FMDQ Exchange” or the “Exchange”) has approved the quotation of ARCO Worldwide Services Limited’s ₦0.78 billion Series 1 Tranche A and ₦2.03 billion Series 1 Tranche B Commercial Paper (CP) under its ₦30.00 billion CP Issuance Programme. This approval by the Exchange’s Board Listings and Markets Committee reflects FMDQ Exchange’s commitment to broadening access to the Nigerian debt capital market, providing efficient short-term funding solutions to innovative and technology-driven enterprises.
ARCO Worldwide Services Limited (“ARCO” or the “Issuer”), a subsidiary of ARCO Group PLC, provides drone-based aerial surveillance, inspection, and geospatial intelligence solutions to clients across the Nigerian oil and gas, security and defence, agriculture, telecommunications, and infrastructure sectors. The proceeds from this CP issuance, sponsored by United Capital PLC (Lead Sponsor) and Lead Capital PLC (Co-Sponsor), both Registration Members (Quotation) of FMDQ Exchange, will support the Issuer’s working capital needs and strengthen its operational capacity as it scales technology-driven services nationwide.
Commenting on the CP quotation, Ms. Tumi Sekoni, Group Chief Operating Officer, FMDQ Group PLC, stated: “The participation of technology-enabled service providers such as ARCO Worldwide Services Limited highlights the versatility of Nigeria’s CP market and its relevance to businesses across diverse sectors. As companies embrace innovation and expand their capabilities, access to efficient, market-based financing becomes increasingly important. FMDQ Exchange remains dedicated to fostering a market that connects eligible issuers with the capital required to advance their strategic growth objectives.”
Also speaking on the transaction, Mr. Okosubide Mozimo, Managing Director, ARCO Worldwide Services Limited, said: “The successful completion of our debut CP issuance is a defining milestone in ARCO Worldwide’s journey. The strength and quality of investor participation reflect deep confidence in our capabilities, our disciplined approach to execution, and the long-term vision driving our growth. This capital raise gives us greater financial flexibility to drive the deployment of advanced drone technologies and reinforces our position as a leader in aerial intelligence and surveillance across Nigeria and the wider African market”.
In the same vein, Dr. Gbadebo Adenrele, Managing Director, Investment Banking, United Capital PLC, said: “We are pleased to have partnered with ARCO Worldwide on this landmark transaction. The strong investor response reflects the Company’s robust fundamentals, compelling value proposition, and strategic relevance within a rapidly expanding technology-enabled services landscape. This successful issuance reinforces the role of the domestic debt capital market as a critical funding avenue for high-growth indigenous enterprises”
FMDQ Exchange continues to expand the frontiers of Nigeria’s short-term debt market by collaborating with issuers, sponsors, and regulators to bring new and previously underrepresented sectors into the capital-raising ecosystem. Through efficient quotation processes and rigorous regulatory oversight, the Exchange enables businesses across sizes and industries to access cost-effective, market-determined funding, broadening participation in the domestic capital markets and reinforcing Nigeria’s standing as a hub for innovative debt financing solutions.
FMDQ Group PLC (“FMDQ Group” or the “Group”) is Africa’s first vertically integrated FMI group, strategically positioned to provide end-to-end services across the financial markets value chain. The Group offers registration, listing, quotation, and noting services; integrated trading platforms; clearing & central counterparty, and settlement services for financial markets transactions; securities depository services; and market data & information services, across the debt capital, foreign exchange, derivatives, and equity markets, through its wholly owned subsidiaries – FMDQ Exchange, FMDQ Clear Limited, FMDQ Depository Limited and FMDQ Private Markets Limited. As a sustainability-focused FMI group, FMDQ Group, through FMDQ Exchange, operates Africa’s premier Green Exchange – FMDQ Green Exchange – positioned to lead the transition towards a sustainable future.