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FMDQ Group PLC has increased its share of Central Securities Clearing System (CSCS) PLC to 22.66% in 2024.
In 2023 it completed the acquisition of 21.6% of CSCS shares, when it bought 1.081 billion units of CSCS Plc shares in a transaction valued at about N20 billion.
FMDQ earned N2.7 billion as share of profit from CSCS in 2024, while the carrying amount of the investment was placed at N24.58 billion.
CSCS an abbreviation for Central Security and Clearing System and is a leading clearing house for capital market operations in Nigeria, and a Central Securities Depository (CSD) licensed to carry on the depository, clearing, and settlement of all transactions in the Nigerian Capital Market.
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