Yemisi Izuora
FMDQ Securities Exchange Limited has approved the quotations of HillCrest Agro-Allied Industries Limited’s ₦2.42 billion Series 1 and ₦9.31 billion Series 2 Commercial Papers (“CPs”) under its ₦30.00 billion CP Issuance Programme.
This approval by the Exchange’s Board Listings and Markets Committee underscores the important role of the Nigerian debt capital market in supporting access to efficient short-term funding for agro-processing enterprises.
HillCrest Agro-Allied Industries Limited (“HillCrest” or the “Issuer”) is a Kwara State-based agro-processing company operating in the Nigerian rice milling sub-sector. The company produces parboiled rice from locally sourced paddy through its expanding, technology-driven milling operations. Proceeds from this CP issuance, sponsored by Comercio Partners Capital Limited, a Registration Member (Quotation) of FMDQ Exchange, will be deployed to optimise the Issuer’s working capital, support its ongoing production capacity expansion, and strengthen its position within the Nigerian agro-allied value chain.
Commenting on the quotations, Mr. Dipo Omotoso, Senior Vice President, FMDQ Exchange, stated: “HillCrest Agro-Allied Industries Limited’s access to the CP market demonstrates how Nigeria’s capital markets continue to support the growth and expansion plans of home-grown agro-processing companies. As local enterprises continue to scale production and strengthen supply chains, FMDQ Exchange remains committed to providing the market infrastructure needed to connect these enterprises with the funding required to sustain their growth.”
FMDQ Exchange remains resolute in its mission to deepen capital formation for Nigeria’s growing base of agro-processing and manufacturing companies. By providing a transparent and well-regulated marketplace for short-term debt instruments, the Exchange enables these enterprises to fund capacity expansion, adopt modern production technologies, and compete more effectively in both domestic and regional markets, furthering the Exchange’s broader commitment to industrialisation and sustainable economic development.