Why Romco Recycling Company quote ₦1.26bn Commercial Papers on FMDQ Exchange

By Chioma Obinagwam


FMDQ Securities Exchange Limited has announced the approval for the quotation of the Romco Recycling Company Limited ₦0.41 billion Series 1, ₦0.42 billion Series 2 and ₦0.43 billion Series 3 Commercial Papers (“CPs”) under its ₦6.00 billion CP Issuance Programme on its platform on May 24, 2024.


FMDQ told Confiance News in a statement on Friday.


Romco Recycling Company Limited (the “Issuer”) is a multinational non-ferrous metal recycler dedicated to sustainability. The company creates usable recycled metal ingots for manufacturers, reducing the need for mining raw materials.


“The proceeds from the quotation of these CPs, sponsored by Quantum Zenith Capital & Investments Limited, a Registration Member (Quotations) of the Exchange, will be used by the Issuer to support its short-term funding requirements,” FMDQ disclosed.


To fulfill its mandate of deepening the Nigerian financial markets, FMDQ Exchange will consistently uphold its market development and governance responsibilities by providing a cost-effective, efficient, well-regulated, transparent, and reliable platform for raising and transferring capital, ensuring value for its diverse stakeholders.


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 platform, clearing & central counterparty, and settlement services for financial markets 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.

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