Flour Mills of Nigeria PLC Joins Other Corporates to Float Bond on FMDQ Exchange Platform in 2021

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Coming shortly on the heels of the recent Commercial Paper Issuances by Total Nigeria PLC, Valency Agro Nig. Ltd. and Mixta Real Estate PLC, FMDQ Securities Exchange Limited, following the due diligence of its Board Listings and Markets Committee has approved the Listing of the Flour Mills of Nigeria PLC ₦4.89 billion Series 4 Tranche A and ₦25.00 billion Series 4 Tranche B Fixed Rate Bonds under its ₦70.00 billion Bond Issuance Programme on its platform.

The Nigerian economic landscape and business environment have continued to witness disruptions as occasioned by the COVID-19 pandemic with attendant concerns of a prevailing second wave despite global vaccination efforts and restrictive guidelines put in place by governments and advisory bodies.

Flour Mills of Nigeria: Revenue from the sales of Sugar increased by 29.47% to ₦58.19bn

The situation has seen corporates across multiple sectors re-evaluate their financing strategies going into the new year by tapping the debt capital markets as a viable avenue to efficiently raise capital in order to meet their business expansion/working capital needs.

The critical role which debt markets play in facilitating sustainable growth and development cannot be overemphasized. The Nigeria debt capital market (DCM) plays an important role in the efficient mobilisation and allocation of resources in the economy and despite the impact of the current times, the market has continued to effectively support corporates looking to expand their business operations.

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It is in this regard that FMDQ Holdings PLC (“FMDQ Group” or “FMDQ”) in its capacity as a leading market organiser of the Nigerian DCM, amongst others, has continued to provide stakeholders in the Nigerian capital market with a credible and robust platform for capital access, risk management and transfer of value.

As major effects of the pandemic, Nigeria has witnessed rapid inflation characterised by dwindling food security and reduced labour market participation. Flour Mills is strategically positioned to produce and supply products of superior quality and value to the market, thereby, enriching the lives of consumers, customers, communities, employees, and all stakeholders.

According to Mr. Omoboyede Olusanya, Group Managing Director/Chief Executive Officer, Flour Mills of Nigeria Plc, “Flour Mills of Nigeria Plc is delighted to have successfully concluded the issuance of 29.89 billion Series 4 (Tranche A & B) bonds under the ₦70.00 billion bond issuance programme.

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The Bond, which coincided with our 60th-anniversary celebration was strongly supported by the institutional investor community and corroborates our strategic objective of sustaining our market leadership position whilst backwardly integrating to increase the use of locally sourced materials to develop and produce unique consumer products in alignment with our mission of “Feeding the Nation, Everyday”.

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The proceeds of both bonds have been used entirely to refinance our existing commercial paper notes also successfully issued during the pandemic.”

Also commenting on the listing, Abimbola Kasim, Ag Managing Director, FCMB Capital Markets Limited, stated “FCMB Capital Markets appreciates the opportunity given to us by the Board and Management of Flour Mills of Nigeria to act as the Lead Issuing House on its ₦29.89 billion Series 4 Bond Issuance, being the final and largest Series under the ₦70 billion Bond Issuance Programme registered in 2018.

The success of this transaction speaks to Flour Mills’ impressive operational and financial performance and an affirmation of this strength by investors in the bond who subscribed overwhelmingly during a low-interest-rate environment. Following this success, we expect Flour Mills and our other clients to continue to explore opportunities to raise funds from the Nigerian debt capital markets to diversify their funding sources.”

As the economic impact of COVID-19 continues to crystallise and business organisations strive to rise above the ‘murky waters’, FMDQ Group remains steadfast in contributing towards the emergence of a resilient financial market in Nigeria.

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As with previous bonds issued under the programme and with all other securities listed, quoted, and traded on the FMDQ Exchange platform, the Flour Mills bonds shall be availed total market visibility through FMDQ Exchange’s website and systems; transparency through their inclusion in the FMDQ Daily Quotations List; governance and continuous information disclosure to protect investor interest; amongst other benefits derived from the preferred admission to FMDQ Exchange.

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Flour Mills of Nigeria PLC Joins Other Corporates to Float Bond on FMDQ Exchange Platform in 2021 - Brand Spur

TECNO reveals how the highly anticipated TECNO CAMON 17 Pro measure...

HONG KONG SAR - Media OutReach - 14 May 2021 - Consumers nowadays are more than spoilt for choice, in fact, many people are affected by 'information paralysis', that is, having too much information to effectively decide, often resulting in either a wrong decision or a poorly evaluated one. In this article, TECNO helps you to make good decisions amongst the three latest Android phones. They are TECNO CAMON 17 Pro, Samsung A51 and Redmi Note 9 Pro.

All three brands vary in terms of design, features, and functionality. TECNO, an increasingly globally popular brand, is a new generation of smartphone brand today with tasteful artistic design and contempary cutting-edge camera technology. Samsung and Redmi have been fan favourites, and their smartphone models are often popular amongst those most price-conscious consumers.

Camera function - front and rear cameras


Flour Mills of Nigeria PLC Joins Other Corporates to Float Bond on FMDQ Exchange Platform in 2021 - Brand Spur


The consumers nowadays are very savvy in understanding the technology and features that goes into each smartphone model. One of these considerations is the camera capabilities and the supporting software. TECNO CAMON 17 Pro clear winner with a 48 MP front camera, while both the Samsung A51 and Redmi Note 9 Pro cameras are at 32 MP and 16MP respectively, hence allowing the user of TECNO CAMON 17 Pro to capture selfies with quality that is comparable to even rear cameras on some smartphones. Considering the rear camera, TECNO CAMON 17 Pro and Redmi Note 9 Pro are equipped with 64MP rear ultra quad camera, while the Samsung A51 maxes out at 48MP.

What is more fascinating is that the TECNO CAMON 17 Pro comes with trademarked TAIVOS technology, which stands for TECNO AI Vision Optimization Solution. It provides users with extremely good visuals, even in low-light environments. TAIVOS can blur out the clutter in the background and optimize image clarity, thereby enhancing night photography effects. Therefore, making it difficult for other mobile phones to bring users a brighter experience in dark environments. The TECNO CAMON 17 Pro is great for anyone who loves to take selfies as keepsakes. The CAMON 17 Pro's front cameras are just as outstanding as its rear – TECNO is a pioneer in this industry with a 48MP front camera. The functions of TECNO CAMON 17 Pro are smoother than similar products with both multi-camera and AI camera modes, providing breath-taking visuals.

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Flour Mills of Nigeria PLC Joins Other Corporates to Float Bond on FMDQ Exchange Platform in 2021 - Brand Spur


Powerful cameras need equally lasting battery and storage space. The TECNO CAMON 17 Pro has enough space for just about anything with 256GB ROM + 8GB RAM whereas the Samsung A51 and the Redmi Note 9 Pro has only 128GB ROM + 6GB RAM respectively, which is half of what the TECNO CAMON 17 Pro can store.

In addition, the TECNO CAMON 17 Pro has an enormous 5000mAh battery so you do not need to worry about your phone not being able to function when you need it most. The Samsung A51 has a smaller battery whereas the Redmi Note 9 Pro has a slightly bigger battery of 5020mAh, but that difference is negated by CAMON 17 Pro's flash charging technology as the phone's battery can be charged faster. And the 33W fast charger of CAMON 17 Pro enable a quick charge of up to 70% in just 30 minutes, which is an upgrade compared to the 15W charger of the Samsung A51 and 30W charger of Redmi Note 9 Pro.

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Mobile phone technicalities


Flour Mills of Nigeria PLC Joins Other Corporates to Float Bond on FMDQ Exchange Platform in 2021 - Brand Spur


When it comes to visual real estate, size does matter. Amongst the three smartphone models, the Samsung A51 offers the smallest screen real estate, a 6.5 inches full HD screen while the Redmi Note 9 Pro and TECNO CAMON 17 Pro have bigger screens at 6.67 and 6.8 inches, respectively. Here, the TECNO CAMON 17 Pro does have an edge over the rest and what's more, the 90Hz smooth refreshing rate of TECNO CAMON 17 Pro enable the users never worry about any animation rolling issues on the phone, the 90 Hz super-high refreshing rate offers a smooth, snappy and refreshing experience. The CAMON 17 Pro's full HD mobile phone provides the user with more ease in controlling as well as a more comprehensive view of the mobile games and videos on the phone. Additionally, the TECNO CAMON 17 Pro has an operating system of Android 11 whereas the Samsung A51 and Redmi Note 9 Pro are only at Android 10.

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Flour Mills of Nigeria PLC Joins Other Corporates to Float Bond on FMDQ Exchange Platform in 2021 - Brand Spur
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TECNO reveals how the highly anticipated TECNO CAMON 17 Pro measure against its competitors

HONG KONG SAR - Media OutReach - 14 May 2021 - Consumers nowadays are more than spoilt for choice, in fact, many people are affected by 'information paralysis', that is, having too much information to effectively decide, often resulting in either a wrong decision or a poorly evaluated one. In this article, TECNO helps you to make good decisions amongst the three latest Android phones. They are TECNO CAMON 17 Pro, Samsung A51 and Redmi Note 9 Pro.

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Flour Mills of Nigeria PLC Joins Other Corporates to Float Bond on FMDQ Exchange Platform in 2021 - Brand Spur


The consumers nowadays are very savvy in understanding the technology and features that goes into each smartphone model. One of these considerations is the camera capabilities and the supporting software. TECNO CAMON 17 Pro clear winner with a 48 MP front camera, while both the Samsung A51 and Redmi Note 9 Pro cameras are at 32 MP and 16MP respectively, hence allowing the user of TECNO CAMON 17 Pro to capture selfies with quality that is comparable to even rear cameras on some smartphones. Considering the rear camera, TECNO CAMON 17 Pro and Redmi Note 9 Pro are equipped with 64MP rear ultra quad camera, while the Samsung A51 maxes out at 48MP.

What is more fascinating is that the TECNO CAMON 17 Pro comes with trademarked TAIVOS technology, which stands for TECNO AI Vision Optimization Solution. It provides users with extremely good visuals, even in low-light environments. TAIVOS can blur out the clutter in the background and optimize image clarity, thereby enhancing night photography effects. Therefore, making it difficult for other mobile phones to bring users a brighter experience in dark environments. The TECNO CAMON 17 Pro is great for anyone who loves to take selfies as keepsakes. The CAMON 17 Pro's front cameras are just as outstanding as its rear – TECNO is a pioneer in this industry with a 48MP front camera. The functions of TECNO CAMON 17 Pro are smoother than similar products with both multi-camera and AI camera modes, providing breath-taking visuals.

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Flour Mills of Nigeria PLC Joins Other Corporates to Float Bond on FMDQ Exchange Platform in 2021 - Brand Spur


Powerful cameras need equally lasting battery and storage space. The TECNO CAMON 17 Pro has enough space for just about anything with 256GB ROM + 8GB RAM whereas the Samsung A51 and the Redmi Note 9 Pro has only 128GB ROM + 6GB RAM respectively, which is half of what the TECNO CAMON 17 Pro can store.

In addition, the TECNO CAMON 17 Pro has an enormous 5000mAh battery so you do not need to worry about your phone not being able to function when you need it most. The Samsung A51 has a smaller battery whereas the Redmi Note 9 Pro has a slightly bigger battery of 5020mAh, but that difference is negated by CAMON 17 Pro's flash charging technology as the phone's battery can be charged faster. And the 33W fast charger of CAMON 17 Pro enable a quick charge of up to 70% in just 30 minutes, which is an upgrade compared to the 15W charger of the Samsung A51 and 30W charger of Redmi Note 9 Pro.

Mobile phone technicalities


Flour Mills of Nigeria PLC Joins Other Corporates to Float Bond on FMDQ Exchange Platform in 2021 - Brand Spur


When it comes to visual real estate, size does matter. Amongst the three smartphone models, the Samsung A51 offers the smallest screen real estate, a 6.5 inches full HD screen while the Redmi Note 9 Pro and TECNO CAMON 17 Pro have bigger screens at 6.67 and 6.8 inches, respectively. Here, the TECNO CAMON 17 Pro does have an edge over the rest and what's more, the 90Hz smooth refreshing rate of TECNO CAMON 17 Pro enable the users never worry about any animation rolling issues on the phone, the 90 Hz super-high refreshing rate offers a smooth, snappy and refreshing experience. The CAMON 17 Pro's full HD mobile phone provides the user with more ease in controlling as well as a more comprehensive view of the mobile games and videos on the phone. Additionally, the TECNO CAMON 17 Pro has an operating system of Android 11 whereas the Samsung A51 and Redmi Note 9 Pro are only at Android 10.

So which phone would you prefer after reading the comparisons? After our comparisons, the TECNO CAMON 17 Pro stands out for the young, adventurous generation that is looking for a phone that can not only perform the basic functions well, but also have additional tools that add so much value to a phone. Redmi Note 9 Pro performed slightly worse in the front camera, fast charger and the screen, which could be a second choice with limited budget, while Samsung A51 stands out with its brand impact, and with no other obvious strength.


Flour Mills of Nigeria PLC Joins Other Corporates to Float Bond on FMDQ Exchange Platform in 2021 - Brand Spur
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