Magnificent Multiservices Limited has successfully registered a N20 billion Series 1 Commercial Paper Program on the FMDQ Exchange.
According to the company, N5bn has been accessed already for its proposed city and estate developments through Raedial Homes. The company aims to use the proceeds of the commercial paper to fully develop smart cities and smart homes through its development subsidiary.
What the company is saying
To commemorate the successful debut on FMDQ Exchange, Claris Agenmonmen, a Director at Magnificent Multiservices Limited, said “we are extremely pleased, as this will be another step for us to expand and find solutions to some of the real estate problems Nigerians face daily. The success of this issue and subsequent listings are significant indicators of increasing investor confidence in our company’s reputation, brand, and performance.”
The Chief Executive Officer of Magnificent Multiservices Limited, Uwadiale Agenmonmen, said, “The company provides clients with a competitive and expansive platform of offerings in leasing, sales, investment sales, tenant and landlord advisory services, corporate and business consulting, and development. Clients also have the benefit of working with professionals in general construction, property and asset management, multifamily management, debt and equity capital placement, and data analytics.“
“Our milestone debut market entry will emphasize the necessary collaboration between private entities and debt capital markets, as it enables us to pursue our multi-pronged growth strategy of optimizing our operations and assets, expanding our footprint, and revolutionizing the real estate sector. The CP will be used to support our enterprise on many fronts, but largely in solving the building collapsing issues that seem to be currently plaguing Nigeria.”
Nigerian Small Businesses Struggle as Petrol Price Hike Adds to Economic Woes.
The recent removal of petrol subsidy and subsequent surge in petrol prices have dealt another blow to Nigeria's already beleaguered...
