FMDQ

FMDQ OTC Securities Exchange Admits the Listing of N30.0bn Fidelity Bank Bond Posted on: October 20, 2015

FMDQ OTC Securities Exchange Admits the Listing of N30.0bn Fidelity Bank Bond. On the heels of about N72.04bn Corporate Bonds listed on the platform of FMDQ OTC PLC (FMDQ), comes yet another achievement with the listing of the Fidelity Bank PLC ₦30,000,000,000.00 16.48% Subordinated Unsecured Fixed Rate Bond (the “Fidelity Bond”).

As has become the tradition with the securities exchange, the Fidelity Bond was welcomed onto the platform with a listing ceremony which saw in attendance, the issuer represented by Mr. Nnamdi Okonkwo (Managing Director/CEO of Fidelity Bank PLC), the Registration Member (Listings) of FMDQ, Mr. Tony Anonyia (Co-CEO, Planet Capital Limited) among other key parties to this listing.

In his brief remark, the MD/CEO of FMDQ, Mr. Bola Onadele. Koko, expressed his delight at the level of market acceptance which FMDQ has gained following its launch onto the Nigerian financial market landscape. He noted that, FMDQ as a debt-focused securities exchange has an unwavering a commitment to facilitate growth and development in the financial market through its efficient platform for the registration, listing, quotation and valuation of bonds. He further highlighted that listing of debt securities on FMDQ provides a wide range of benefits across the debt market value chain to include global visibility and transparency to the listed debts, improved secondary market liquidity, price formation and benchmark pricing.

Speaking at the listing ceremony, Mr. Okonkwo, said as a Dealing Member of FMDQ, the bank relishes the depth and transparency of the FMDQ OTC platform. Through the provision of reliable market data, that he said FMDQ has empowered the Nigerian debt capital market (DCM) with price discovery, transparency and market integrity. “Following our successful experiences with FMDQ, we decided to list the Fidelity Bank Bond on the Exchange, to be a part of the bond market revolution in Nigeria”, Okonkwo added. According to him, the registration and listing process was straightforward and quick, adding that “the FMDQ team worked assiduously to obtain requisite approvals and prepare the Bond for instantaneous listing on the Exchange.” By virtue of this listing, the bank is offering greater value to its esteemed shareholders and investors by improving liquidity, visibility and transparency of transactions.

Also speaking at the ceremony, Mr. Anonyai, stated that Planet Capital Limited is pleased to have led the club of underwriters and congratulated Fidelity Bank Plc on the success of the Issue. He noted that the listing of the Bonds on the FMDQ platform is good for investors as it enhances liquidity of the security. He praised the FMDQ for the simplified registration process of their platform, noting that the Exchange is facilitating the growth and development of our financial markets.

As Nigeria’s foremost debt capital securities exchange, FMDQ recognises the growth potentials of issuers of debt in the Nigerian capital market and thus provides them with a remarkable opportunity to raise the profile of their issues and access a deep pool of capital. By institutionalising robust market development and governance infrastructures, the securities exchange positively impacts the Nigerian debt capital market (DCM) stakeholders i.e. issuers, issuing houses, investors, market makers and regulators, thus resulting in a more globally competitive capital market.