Nigeria’s capital market depository and clearing infrastructure- the Central Securities Clearing System Plc, at the weekend said FMDQ Holdings Plc has acquired substantial 1,080,641,902 units, or 21.6% of its shares on the NASD OTC Plc platform, making it the second largest shareholder.
A statement by Charles Ojo, the Company Secretary and General Counsel, noted that the significant trade of its shares which occurred on Friday 30 June 2023 involved two major shareholder who sold their stakes to FMDQ OTC Plc.
They are: Artemis Limited which previously held 830,641,902 units, or 16.61%; and ZPC/Leadway Insurance with 250m shares 5%, and bringing total stake by FMDQ to 21.6% equity stake in CSCS.
Before the transaction, according to data on the CSCS Plc website, apart from ZPC/Leadway Insurance Prem. Coll. & Investment Account, which sold its entire holding; Artemis Limited held 1,000,641,902 units, representing a 20.01% stake. Other significant shareholders of CSCS include: the Nigerian Stock Exchange (now Nigerian Exchange Group Plc) remains the biggest shareholder with 1,362,108,950 shares or 27.24%; United Bank for Africa Plc, 268.5m, representing 5.37%; Ess-ay Investment Limited, 251,452,248 or 5.03%; while others with shareholdings less than 5%, including some of the largest banks in Nigeria, private equity firms, corporate and individual shareholders, stood at 1,492,296,900 or 29.85%
The company, a Public Limited Company, which plays an intrinsic role in ensuring the integrity and safety of transactions conducted in the Nigerian capital market, expressed gratitude to its shareholders and stakeholders for the sustained interest, affirming its “dedication to working towards achieving our strategic objectives of being the globally respected and leading central securities depository in Africa.
Shares of CSCS Plc closed at ₦17.86 per share as of July 7, 2023.