FMDQ Securities Exchange Limited Partners With Luxembourg Stock Exchange

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FMDQ Securities Exchange Limited has partnered with Luxembourg Stock Exchange (LuxSE) to facilitate the dual listing of securities issued by financial institutions and corporates domiciled in the country.
The partnership is expected to boost the international visibility of indigenous issuers with securities listed on FMDQ Exchange by providing a secondary listing venue at LuxSE.

NAN reports that both parties signed a listing agent and cooperation agreement during the hybrid launch of the FMDQ Green Exchange on Monday in Lagos.

Speaking at the signing ceremony, Tumi Sekoni, managing director, FMDQ Exchange, said that the partnership would provide an opportunity for FMDQ-listed securities, including green and sustainable securities, to be on the official list of the LuxSE.

“I am proud to announce the execution of the listing agent and corporation agreement between FMDQ Securities Exchange Ltd. and the Luxembourg Stock Exchange,” she said.

“This agreement will facilitate the dual listing of the FMDQ admitted securities including green and sustainable securities on the securities official list of the Luxembourg Stock Exchange.

“This will offer the issuers of these securities the opportunity subject to the fulfilment of eligibility criteria of having their securities dual-listed on the domestic and international securities exchange, that is the FMDQ Exchange and the Luxembourg Stock Exchange.

“At FMDQ Exchange, we are confident that this step will provide issuers increased visibility and facilitate improved access of these issuers into the international capital market.

“This shows the FMDQ long-standing commitment to revolutionising the Nigerian capital market into a world-class and competitive market.”

In her remarks, Julie Becker, chief executive officer of LuxSE, said that the signing was another milestone for the international capital market.

“It shows the strong connection between the stock exchange and the capital market ecosystem,” Becker said.

“Through this agreement, we pledge to share knowledge and expertise that will enable Nigerian issuers with securities listed on FMDQ to tap into the international capital market.

“By providing a secondary listing on Luxembourg Stock Exchange market as well as providing guidance on legal and regulatory obligations that come with bringing securities to the international capital market.”

Becker assured that both exchanges would work together to expose Nigeria’s growing financial market to the attention of global investors.
– The Cable 

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