Corporate entities embrace debt market as Alpha registers N5 billion CP

•As index dips further by 0.07 per cent
To ensure sustained operations in a challenging business environment, corporates are exploring alternative financing options by accessing the Nigerian debt markets to shore up capital deficits.

To this end, FMDQ Securities Exchange Limited, yesterday, announced the registration of Alpha Mead Facilities & Management Services Limited N5 billion Commercial Paper (CP) Programme on its platform.

According to FMDQ, Alpha Mead Facilities & Management Services Limited is one of Africa’s leading facilities management companies, offering integrated facilities management operations and consultancy services to large, complex and multi-serviced facilities across Africa.

The exchange said the registration of the CP Programme, sponsored by Pathway Advisors Limited, a registration member (Quotations) of the Exchange, allows Alpha Mead facilities to efficiently raise short-term finance from the Nigerian debt markets through CP issues within the approved CP Programme limit.

Administered by FMDQ Exchange, the Nigerian CP market, consistently offers issuers new opportunities to expand their businesses and sustain investors’ confidence, thereby aiding the overall growth of the Nigerian economy.

“The Exchange remains committed to providing a liquid, transparent, and efficient market to support corporate aspirations, enabling access to the necessary capital to bridge funding gaps in their respective sectors.

Meanwhile, negative sentiments persisted in the equities sector of the Nigerian Exchange Limited (NGX) as market capitalization continued to decline by N38 billion.

Indeed, market capitalisation of listed equities declined by N38 billion to N56.031 trillion from N56.069 trillion reported the previous day.

The NGX All Share Index also depreciated by 67.84 basis points or 00.7 per cent to 99051.02 points from 99118.86 points recorded the previous day.
Year-to-date return stood at 32.47 per cent as many decliners rose to 22 against 17 stocks that constituted the gainers’ chart.

On the price movement chart, Nigerian Breweries led the gainers’ table with 10 per cent to close at N28.60 kobo.

Presco Plc followed with a gain of 9.99 per cent to close at N293.90 kobo, Oando Plc added 9.65 per cent to close at N14.20 kobo.
RTBriscoe garnered 9.62 per cent to close at 57 kobo, Deep Capital also gained 9.09 per cent to close at 48 kobo.

On the contrary, Tantalizer topped the losers’ table, declining by 10 per cent to close at 45 kobo. International General Insurance trailed with 9.71 per cent to close at N1.58 kobo.

UPDC dipped by 9.7 per cent to close at N1.21 kobo. Unity Bank was down by 9.42 per cent to close at N1.25 kobo, Chams also dipped by 6.67 per cent to close at N1.40 kobo.

The volume of transactions during the day showed a decline of 2.202 million, representing a drop of 0.63 per cent as investors traded 347.388 million shares valued at N7.656 billion in 8122 deals against 349.590 million shares valued at N5.237 billion exchanged hands the previous day in 8082 deals.

Transactions showed that Veritas Kapital led market activities with 59.174 million shares valued at N40.219 million.

Fidelity Bank followed with an account of 48.121 million shares costing N468.226 million, Oando Plc traded 27.959 million shares worth N397.019 million.
Unity Bank exchanged 20.528 million shares cost N25.923 million while United Bank for Africa traded 19.781 million shares cost N418.863 million.