The FMDQ Securities Exchange Limited has approved the quotation of the Mixta Real Estate Plc N1.66bn Series 33 Commercial Paper under its N20bn CP Issuance Programme.
The move was to empower the Nigerian financial market, according to a statement of Monday.
According to FMDQ, the quotation is another testament to its leadership and resilience in providing the necessary support to governments, corporates, and individuals to deliver innovative and dependable capital market solutions.
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“The CP market has continued to prove a viable alternative for corporate entities in diverse business areas looking to secure short-term funding for working capital requirements and other capital expenditures. It avails them with numerous opportunities to carry on with key business activities which contribute to the revitalisation of the Nigerian economy despite the pandemic,” it said.
FMDQ noted that like other securities listed, quoted, and traded on the platform, the Mixta CP would avail global visibility through FMDQ Exchange’s website and systems.
It explained that despite the Nigerian real estate sector’s underperformance last year, operators in the industry were optimistic that there could be an early rebound in 2021.
“However, affordability continues to be a major limiting factor to homeownership at the bottom of the income pyramid in Nigeria due to the high inflation rate and cost of building materials.
“As the leading organiser for the Nigerian debt capital market and in its role as a catalyst for infrastructure development, FMDQ Securities Exchange Limited provides a choice platform for the registrations, listings, quotations, and trading of debt securities, towards empowering the Nigerian financial market,” FMDQ added.
Mixta Real Estate Plc, a subsidiary of Mixta Africa, is a leading real estate development company in Nigeria.
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