FMDQ Admits Mixta Real Estate Plc’s N960m Commercial Paper
FMDQ Securities Exchange Limited has approved the quotation of the N960 million Series 35 Mixta Real Estate Plc Commercial Paper (CP) under its N20 billion CP Issuance Programme on its platform.
The proceeds from this CP quotation will be used to finance Mixta Real Estate Plc’s short-term funding requirements.
Mixta Real Estate Plc, a subsidiary of Mixta Africa, is a real estate development company in Nigeria, with a strong track record and diverse real estate portfolio, and operations spanning the residential, commercial, and retail sectors of the Nigerian real estate industry. It has successfully developed well over 5,000 properties spanning across affordable homes, luxury residences, and commercial projects, and continues to seek innovative solutions to activate development finance for affordable housing in Nigeria.
According to FMDQ, the quotation of the Mixta Real Estate Plc’s CP was a further testament to the exchange’s leadership and resilience in providing the required support to businesses, corporates and government entities through the delivery of innovative and value-adding capital market solutions.
“As part of efforts towards unlocking the potential of the Nigerian economy, FMDQ Exchange shall continue to support institutional growth and stimulate continuous development of the economy at large, through the provision of a world-class quotations service, in line with its mandate,” the exchange said.
Meanwhile, trading at the stock market yesterday was bearish as the Nigerian Exchange Limited (NGX) All-Share Index (ASI) fell by 0.4 per cent to close at 39,306.47, while market capitalisation shed N91.4 billion to be at N20.5 trillion.
However, trading activity improved as volume and value rose 62.9 per cent and 2.5 per cent respectively to 357.7 million shares and N3.4 billion. The most traded stocks by volume were Zenith Bank Plc (52.7 million shares units), FBN Holdings Plc (42.5 million shares) and NEM Insurance (39.5 million shares) while Zenith Bank (N1.2 billion), Dangote Sugar Refinery Plc (N368.8 million), and MTN Nigeria (N313.9 million) led by value.
In terms of sectoral performance the NGX Industrial Goods Index led the losers, down 0.7 per cent due to profit taking in BUA Cement Plc and Lafarge Africa Plc. Similarly, the NGX Banking Index declined 0.6 per cent due to sell-offs in Stanbic IBTC and Guaranty Trust Bank.
The NGX Insurance Index and NGX Consumer Goods Index went down by 0.3 per cent and 0.07 per cent respectively.
SOURCE: THIS DAY