Commodities export company, Neveah Limited, has announced the quotation of its Series 3 Commercial Papers (CP) Issue on the FMDQ exchange.
The offer opened for N3bn and closed at N3.58bn on May 26, 2022, to record an oversubscription of 19 per cent.
It would be recalled that it was oversubscribed by 5.7 per cent on its Series 2 CP Issue and 35.6 per cent on its debut series (Series 1) under the programme.
The Chief Executive Officer of Neveah Ltd, Mr Ibidapo Lawal, noted that the commercial papers issuance would further put the company in a strategic position to meet its contractual obligations with off-takers while building its strength as a leader in the international commodities export market.
The Head, Capital Markets and Advisory at United Capital, Babatunde Ajayi, described Neveah Ltd as a registered exporter of agro-commodities and minerals with the Nigerian Export Promotion Council (NEPC).
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