Mixta Real Estate Plc has listed its N960 million commercial paper issuance on the FMDQ Securities Exchange Limited, providing opportunity of vibrant secondary market trading to investors in the securities.
FMDQ Securities Exchange admitted the N0.96 billion Series 35 Mixta Real Estate Plc Commercial Paper (CP) to its board.
Mixta Real Estate issued the CPs under its N20 billion CP issuance programme on its platform.
The net proceeds from the CP quotation will be used to finance Mixta Real Estate’s short-term funding requirements.
Mixta Real Estate, 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.
Mixta Real Estate had developed more than 5,000 properties spanning across affordable homes, luxury residences, and commercial projects. The company continues to seek innovative solutions to activate development finance for affordable housing.
FMDQ Securities Exchange stated that the quotation of the Mixta Real Estate’s N960 million Series 35 CP, which was sponsored on the FMDQ Exchange by FBNQuest Merchant Bank Limited, showed 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.
“As part of efforts towards unlocking the potential of the 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,” FMDQ stated.
FMDQ Group prides itself as Africa’s first vertically integrated financial market infrastructure group, strategically positioned to provide registration, listing and quotation services, seamless trading, clearing, settlement, risk management, and depository of financial market transactions, as well as data and information services, across the debt capital, foreign exchange, derivatives and equity markets, through its wholly owned subsidiaries – FMDQ Exchange, FMDQ Clear Limited and FMDQ Depository Limited.
Mixta commenced operations in February 2006 as a real estate investment fund management company promoted by Asset & Resource Management Company (ARM) Limited. In 2007, the fund was converted to a property company, ARM Properties Plc, as a result of operational and tax limitations encountered due to current legislation governing real estate investment funds in Nigeria. In 2015, ARM acquired Mixta Africa, an Africa-focused large scale property development company headquartered in Spain with subsidiary operations in several countries across North and sub-Saharan Africa. The combination of ARM Properties and Mixta Africa gave birth to Mixta Real Estate Plc.
(THE NATION)
