By Peter Egwuatu
FMDQ OTC Plc, has acquired substantial stake in the Central Securities Clearing System, CSCS Plc, amounting 1,080,641,902 units representing 21.6% of the total equity of the firm.
The Company Secretary/General Counsel of the CSCS, Charles I. Ojo, in a statement made available to Vanguard yesterday, stated: “Two major shareholders of CSCS, Artemis Limited and ZPC Leadway Insurance Prem. Coll & Invest, who previously held 16.61% (830,641,902 units) and 5% (250,000,000 units) shareholding respectively, sold their shares to FMDQ OTC Plc (‘FMDQ’). As a result, FMDQ is now a shareholder with a 21.6% equity stake in CSCS.
The transaction was executed on Friday 30 June 2023, on the NASD OTC Plc.
CSCS serves as the central securities depository and clearing infrastructure for the Nigerian capital markets.
Continuing, he said: “CSCS expresses gratitude to its shareholders and stakeholders for their sustained interest in the company. We affirm our dedication to working towards achieving our strategic objectives of being the globally respected and leading central securities depository in Africa.”