By Chioma Obinagwam
The Board Listings and Markets Committee of the FMDQ Exchange Limited has approved the registration of the Precise Lighting Limited ₦3.50 billion Commercial Paper (CP) Programme on its platform.
Confiance News gathered from a statement issued by the Exchange.
Precise Lighting Limited (“Precise Lighting” or the “Issuer”) is a leading retailer and distributor of high-quality Light Emitting Diode (LED) lighting fixtures, switches, and sockets, specialising in both indoor and outdoor lighting solutions across Nigeria. Renowned for its focus on specification-grade, energy-efficient LED products, the Issuer delivers innovative designs, exceptional craftsmanship, and sophisticated aesthetics. This CP Programme, sponsored by Afrinvest Capital Limited – a Registration Member (Quotations) of the Exchange, positions the Issuer to efficiently raise short-term finance from the Nigerian debt markets through CP issues, within the approved CP Programme limit.
Speaking on the successful registration of the CP Programme, the Chief Executive Officer, Precise Lighting Limited, Mr. Stephen Onaola, stated “We are pleased to announce the approval and registration of our ₦3.50 billion CP Programme by FMDQ Exchange. This significant milestone demonstrates Precise Lighting’s commitment to enhancing its financial flexibility, diversifying funding sources, and supporting its operational and growth objectives. With access to the capital market, we are well-positioned to secure the liquidity and funding required to optimise our working capital and sustain our growth trajectory. For over a decade, Precise Lighting has proudly served the Nigerian market, redefining the way homes and businesses illuminate their spaces. From stunning chandeliers to innovative LED and energy efficient lighting solutions, we have consistently helped transform spaces into havens of comfort and inspiration. Now, we are embarking on a new journey and inviting investors to join us in fuelling our continued growth.”
Mr. Onaola also expressed gratitude, stating, “We extend our appreciation to FMDQ Exchange for approving this Programme and the vital role the Exchange plays in fostering a dynamic, transparent, and inclusive capital market. The support of our Lead Sponsor, Afrinvest Capital Limited has equally been instrumental in bringing this initiative to life. We are grateful for the expertise and dedication displayed throughout this process. As we connect with investors through this Programme, we look forward to building enduring partnerships that empower us to sustain our legacy and illuminate even more Nigerian spaces with style, quality, and innovation.
Furthermore, the Lead Sponsor of the CP Programme on the Exchange, Afrinvest Capital Limited (“Afrinvest”), through its Managing Director, Mr. Suru Daniels, remarked “Afrinvest is proud to have supported Precise Lighting in the successful registration of its ₦3.50 billion CP Programme with FMDQ Exchange. This approval underscores Precise Lighting’s robust financial standing, sound management practices, and strategic foresight. It also reflects FMDQ Exchange’s dedication to providing a transparent and efficient platform that enables businesses to access the capital market with ease. Having served a diverse range of clients across various sectors, Precise Lighting now extends its offerings to a broader spectrum of investors, inviting them to participate in the Company’s growth. This CP Programme is a critical component of the Company’s strategy, allowing it to strengthen its position in the lighting industry while effectively addressing its short-term financing needs. Afrinvest remains committed to partnering with Precise Lighting as it continues to execute its growth initiatives and meet the dynamic demands of its clients. We look forward to supporting the Company’s continued success and long-term sustainability.”
The timely admission of this CP issue, along with other securities on FMDQ Exchange, attests to the efficiency of the Exchange’s Securities Admission Service. As with all other securities listed and quoted on the Exchange’s platform, this CP will benefit from global visibility via the Exchange’s website and systems, transparency through inclusion in the FMDQ Daily Quotations List, governance and continuous information disclosure to protect investors’ interests, credible price formation, among other benefits.
FMDQ Group PLC is Africa’s first vertically integrated financial market infrastructure (FMI) group, strategically positioned to provide registration, listing, quotation and noting services; integrated trading, clearing & central counterparty, settlement, and risk management for financial market transactions; depository of securities, as well as data and 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 PLC, through FMDQ Exchange, operates Africa’s premier Green Exchange – FMDQ Green Exchange – positioned to lead the transition towards a sustainable future.
“FMDQ Securities Exchange Limited continues to lead the way in transforming the Nigerian debt markets, fostering innovation and inclusivity through its dynamic platform. The Exchange remains committed to creating opportunities for corporates to access essential funding and for investors to explore robust opportunities, thereby reshaping the market landscape,” the company assured.
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