FMDQ Exchange admits Mixta Real Estate N0.96bn CP

FMDQ Securities Exchange Ltd has approved the quotation of the N0.96 billion series 35 Mixta Real Estate Plc Commercial Paper (CP) on its platform.

This was disclosed in a statement by FMDQ Exchange made available to our reporter on Monday in Lagos.

The statement said the quotation was approved by the FMDQ Exchange Board Listings and Markets Committee.

It noted that the transaction was under Mixta Real Estate N20 billion CP issuance programme.

The statement explained that proceeds of the CP would be used to finance Mixta Real Estate’s short-term funding requirements.

“Mixta Real Estate (Mixta), a subsidiary of Mixta Africa, is a leading real estate development company in Nigeria.

“It has 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,” it said.

The statement added that the CP was sponsored on the Exchange by FBNQuest Merchant Bank Ltd.

“It is a further testament to FMDQ’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,” it said.

According to the statement, FMDQ Exchange will continue to support institutional growth and stimulate continuous development of the economy at large, through the provision of a world-class services.