Technology-driven agricultural company ThriveAgric hosted the signing ceremony for the debut of its Commercial Paper issuance in Lagos on Tuesday, alongside key stakeholders, institutional investors, and company executives. Photo: ThriveAgric
Technology-driven agricultural company, ThriveAgric, has formally announced the successful debut of its commercial paper issuance, following a signing ceremony held in Lagos on Tuesday.
The Series 1 issuance was oversubscribed due to substantial institutional demand, enabling the firm to raise its initial N5bn target and close the transaction at approximately N5.3bn.
The transaction follows the Securities and Exchange Commission’s approval of ThriveAgric’s N50bn Commercial Paper Programme, under which the Series 1 issuance was completed. The programme provides the company with a capital market platform to support its growing working capital and operational expansion.
Reflecting on the milestone, the Chief Executive Officer and Co-Founder of ThriveAgric, Uka Eje, said, “Securing SEC approval for our N50bn CP Programme and completing this oversubscribed N5bn Series 1 raise validates our disciplined approach to corporate governance and capital management.
