The first company screened for listing on the Lagos Commodities and Futures Exchange, Voriancorelli , said it will be raising N20billion through the floating of Exchange Traded Notes in a bid to operate optimally in the Nigerian agriculture sector.
Speaking, chairman of Voriancorelli, Mr Bolaji Akinboro, explained that listing of the company would enable it to access liquidity, operate under the Exchange’s rules and regulations as evidence of transparency and provide opportunities to create new forms of fungible and tradeable assets. “Underpinning the problem of market linkage is liquidity: Whether in form of capital financing, credit, or grant. The cost and availability of this liquidity undercuts profitability for agribusinesses. Therefore, in collaboration with the LCFE, the strength of the capital markets will be brought to bear in agriculture for the first time.
Source: News Formal (newsformal.com)
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