By Modupe Gbadeyanka
Committed to stimulating economic development by championing and supporting market-driven initiatives, the FMDQ OTC Exchange, through its Board Listings, Markets and Technology Committee, has approved the listing of the Stanbic IBTC Money Market Fund 10,000,000 Units of N100 each under N1 billion (Money Market Fund), Stanbic IBTC Bond Fund 10,000,000 Units of N1 each at N1 per unit, under N1 billion (Bond Fund) and Stanbic IBTC Dollar Fund 5,000,000 Units of $1 each, under $5,000,000 (Dollar Fund) on its platform.
The listing of these Funds on FMDQ’s platform validates its conscious drive to support the goals of corporate businesses and to deepen the Nigerian financial markets by steadfastly availing its efficient platform for the registration, listing, quotation and trading of securities.
These open-ended funds are set to enable investors achieve competitive returns on their assets while safeguarding capital, by investing in low risk short-term securities, high quality government bonds and dollar denominated securities domiciled in Nigeria.
A formal listing ceremony will be held at a later date to commemorate these listings.
more recommended stories
Fitch Fears Another Naira Devaluation, Downgrades 3 Banks
By Dipo Olowookere The ratings of.
Exchange Rates Stable at Major FX Windows
By Adedapo Adesanya The Naira closed.
Value of Stocks at NASD Exchange Remains at N509bn
By Adedapo Adesanya Trading activities at.
Renewed Output Cut Talks Push Brent Closer to $35
By Adedapo Adesanya Brent Crude went.
NAICOM Rolls Out Forbearance Measures for Insurers
By Adedapo Adesanya The National Insurance.
FIRS Grows Q1 Revenue by 7% to N1.1trn
By Adedapo Adesanya The Federal Inland.
Listed Firms Must Disclose Impact of COVID-19 on Operations—SEC
By Modupe Gbadeyanka The Securities and.
CBN’s OMO Bills Get COVID-19 Treatment as Traders ‘Stay Home’
By Dipo Olowookere As anticipated, the.