Magnificent Multiservices Limited, a Nigerian full-service real estate business, has registered N20bn series 1 Commercial Paper Programme on the FMDQ Securities Exchange platform with N5bn accessed already for their proposed City and Estate developments through RAEDIAL HOMES.
The quotation of the Commercial Paper was sponsored by Keystone Bank Limited and issued through Qualinvest Capital Limited. The paper strategically positions Magnificent Multiservices Limited to raise short-term finance easily and quickly from the Nigerian debt markets. The company will also benefit from FMDQ Exchange’s diversified market stakeholders, its highly responsive and efficient listing and quotation processes, and credible benchmark pricing required for appropriate portfolio valuation, amongst others.
To commemorate the successful debut on FMDQ Exchange, a director in Magnificent Multiservices Limited, Claris stated that “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.
Magnificent Multiservices Limited started as a Real Estate Firm doing great work in real estate investment over the years with investment spread across Edo, Rivers, Lagos and Abuja. With the 20bn commercial paper, we intend to go into full development of Smart Cities and Smart Homes through Raedial Homes which is our development subsidiary.”
Speaking on the projects, the chief executive officer, Magnificent Multiservices Limited, Uwadiale Agenmonmen stated that” 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 commercial paper 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.
“Experience has taught us that each time a building collapses in Nigeria, built environment professionals in other parts of the world tend to doubt the competence of professionals in the Nigerian building industry. Building collapse is a global phenomenon, but the frequency at which buildings collapse in Nigeria has attracted a worldwide concern on the need to assist this country to improve on its safety performance. We are ready to take on the challenge.” He stated.
