Business & Economy
Fidson Healthcare PLC N4.5 Billion Series I Commercial Paper Issuance
Fidson Healthcare Plc (Fidson) has successfully issued a 44.5 billion Series 1 Commercial Paper under its MO Billion Programme registered with the FMDQ Securities Exchange Limited. The Issue was Fidson’s debut issuance in the Nigerian debt capital market.
The offer attracted significant interest from a wide range of investors, resulting in 150% subscription level, which is an indication of investor confidence in the Company and its Management.
Reporting on the successful issuance, Mr. Imokha Ayebae, Chief Financial Officer of Fidson, stated that
“Since its inception in 1995, Fidson Healthcare Plc. has remained committed to the growth of the healthcare sector in Nigeria. Issuing Commercial Paper at this time in our Company history is a strategic move that aligns with our vision to be the preferred healthcare provider in the pharmaceutical manufacturing industry in Nigeria and West Africa. Issuances via Commercial Paper notes will further broaden the Company’s sources of capital and reduce our overall funding costs.
Proceeds from this will be used to meet the company’s short-term working capital requirements which are geared towards providing quality products to our valued customers.”
FSDH Capital Limited and CardinalStone Partners Limited acted as Joint Arrangers and Dealers to the Issue.
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