FMDQ Holdings Plc is now a shareholder of Central Securities Clearing System Plc (CSCS) with a 21.6 per cent equity stake.
CSCS Company Secretary/General Counsel, Charles I. Ojo, who confirmed the development in a statement on Saturday, disclosed that on Friday 30 June 2023, there was a significant trade of shares of CSCS on the NASD OTC Plc.
“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.
CSCS serves as the central securities depository and clearing infrastructure for the Nigerian capital markets. Our company plays an intrinsic role in ensuring the integrity and safety of transactions conducted in the Nigerian capital market.
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.
FMDQ is Africa’s 1st vertically integrated FMI group, providing execution, clearing & settlement of transactions via FMDQ Exchange, FMDQ Clear & FMDQ Depository.
