8/3/2017/Leadership

By Olushola Bello

The Nigerian Stock Exchange listed N2 billion Greenwich Plus Money Market Fund on its platform for trading.

20 million units of the Greenwich Plus Money Market Fund at N100 per share with a market capitalisation of N2 billion was admitted on the NSE yesterday in Lagos.

The listing at the FMDQ followed a successful Initial Public Offer (IPO), which was over subscribed by 44.85 per cent.

Speaking at the listing, the managing director, Greenwich Trust Limited, Mr. Kayode Falowo said the listing was great feat in view of recent economic and financial market conditions.

He noted that the listing was remarkable to Greenwich Trust Group, adding that 48 per cent over-subscription attests to the confidence investors have in the capability of the Fund Manager, Greenwich Asset Management.

According to Folowo, the market received us and a lot of the unit holders came through the stockbrokers.

“We appreciate the brokage community for assisting and ensuring that not only did we raise N1 billion, but we end up raising N1.45 billion.”

He added that “Our choice to list the Greenwich Plus on NSE is to promote the transparency and visibility of the Fund.

“The Fund remains open and its core objectives are to achieve a competitive rate of return and generate a steady stream of income for unitholders and the company will continue to grow it.”