Having successfully met the requirements as contained in the FMDQ Commercial Paper (CP) Quotation Rules (the Rules), and subsequent to the approval of the FMDQ Board Listings, Markets and Technology Committee, the UACN Property Development Company (UPDC) PLC N16,799,893,000.00 CP (UPDC CP) was admitted for quotation on FMDQ OTC Securities Exchange (“FMDQ” or “the Exchange”).
UPDC CP became the fifth CP admitted for quotation since the release of the Rules. This CP represents series 1 under the organisation’s ₦24,000,000,000.00 CP Issuance Programme. In commemoration of this quotation, a Quotation Ceremony was held at the FMDQ offices to formally welcome the CP on the Exchange.
Amongst the attendees at this prestigious Ceremony were, Mr. Hakeem Ogunniran, Managing Director UPDC PLC, representing the issuer of the CP; Mr. Kayode Akinkugbe, Chairman & Director, FBN Capital Limited and Mr. Abubakar Jimoh, Managing Director/CEO, Coronation Merchant Bank Nigeria Limited, represented by Mr. Aigbovbioise Aig-Imoukhuede, Executive Director, Coronation Merchant Bank Nigeria Limited, both FMDQ Registration Members (Quotations) and co-sponsors of the issue on the platform. Highlights of the Ceremony included the signing of the FMDQ CP Quotations Register, the presentation of the FMDQ CP Quotations Certificate to the issuer and the autographing of the FMDQ CP Quotations Yearbook, among others.