UACN Property Development Company Plc (UPDC) has become yet another beneficiary of The Nigerian Stock Exchange’s (NSE or The Exchange) commitment to provide continued access to capital even in the face of COVID-19.

The company successfully listed its N16 billion Rights Issue of 15,961,574,145 Ordinary Shares of 50 kobo each at N=1.00 per Share on the NSE platform on Tuesday, 2 June 2020 shares of 50 kobo each at N=1.00 per Share on the NSE platform on Tuesday, 2 June 2020.

Speaking at the virtual Closing Gong ceremony to commemorate the listing, the Chief Executive Officer, NSE, Mr. Oscar N. Onyema, OON commented, “We congratulate the Management and Team at UACN Property Development Company Plc, as well as the professional parties to the issue for the successful completion of the transaction. At the NSE, we prioritize our responsibility to support the development of Issuers, Dealing Member Firms and the investing public, and we continue to work assiduously to respond to the needs of our stakeholders at every time. We are, therefore, pleased to provide support to UPDC on this successful capital raise, and we remain committed to providing opportunities for trading activities across multiple asset classes – equities, bonds, ETFs.”

READ ALSO: Seplat denies swindling FG of N600 billion despite co-conspirator’s guilty plea

Commenting on the transaction, the Group Managing Director, UPDC, Mr. Folasope Aiyesimoji said, “I am deeply honoured to virtually sound the Closing Gong at the NSE today. The innovation and forward-thinking displayed by The Exchange in harnessing technology to make this possible is truly commendable. We at UPDC are excited about the milestone we have achieved today, and we are confident that the funds raised will further strengthen our capital structure and position us for growth. We count ourselves fortunate to be listed on the NSE which exposes us to a wide pool of investors and funding options. We must also commend the NSE for its efforts in building investor confidence which has made it possible for us to access this capital. We are grateful for the trust reposed in us by investors and we are keen to get on with the invaluable projects this capital will support.”

The Exchange remains focused on leveraging technology and business innovation to sustain full operations during this pandemic. Since the activation of its Business Continuity Plan which saw the transition to remote trading and working in March, the NSE has enjoyed seamless operations on the back of electronic platforms such as FIX Protocol, X-NET, and the newly implemented Virtual Private Network (VPN). The NSE digital Closing Gong ceremony also attests to the resilience of the NSE’s technology platforms with UPDC being the third company to feature in the series following Sterling Bank and FBNQuest Merchant Bank.

JUNE 1, 2020, LAGOS – The Lagos State COVID-19 response has received 5 ambulances in addition to a cash sum of N200 million earlier received from BUA Foundation, the philanthropic arm of BUA Group, one of Africa’s leading foods and infrastructure conglomerate.

The Group Chief Operating Officer, BUA Group, Chimaobi Madukwe, while presenting the COVID-19 response ambulances and cheque to the First Lady of Lagos state, Ibijoke Sanwo-Olu commended the effort of the Lagos State Government in curbing the effects of the virus. Madukwe also added that BUA will continue to support various effort across Nigeria to stop the virus.

READ ALSO: LIRS further extends deadline for filing annual tax returns by one month

“As a responsible corporate citizen, we felt a responsibility to support the state government and the people during these times.

“We are proud to be associated with the Lagos State government in this fight against the coronavirus. We are keen in contributing our quota where needed to end the pandemic and these ambulances are to ensure the people of Lagos state get the best medical attention.

“We are working tirelessly with various stakeholders to further identify places where help is needed and had since set aside a grant in addition to this cash donation and 5 ambulances from which some projects are being carried out.”

IMG_8929: L-R: O’tega Ogra, Group Head, Corporate Communications, BUA Group, Chimaobi Madukwe, Representative of BUA Foundation and Group Chief Operating Officer, BUA Group, Ibijoke Sanwo-Olu, First Lady of Lagos State at the presentation of 5 ambulances and N200 Million cash donation to the Lagos State COVID-19 Response.

Receiving the donations on behalf of the Governor, Babajide Sanwo-Olu, the First Lady of Lagos state, Ibijoke Sanwo-Olu who described the donation as critical to the COVID-19 fight thanked the foundation and the BUA Chairman, Abdul Samad Rabiu for the gesture which will strengthen the state’s response to the pandemic.

EDITOR’S NOTE: This is a sponsored content. 

EDITOR’S NOTE: Please, be informed that this is a sponsored content by SujiMoto, a luxury real estate company based in Lagos.

What has been the impact of COVID-19 on your business?

In every adversity, there is a blessing. Covid-19 has indeed been a blessing for me. I have come up with more ideas than ever and even had time to study my past and also re-assess the opportunities in real estate. Many have said that the real estate industry is one of the worst hit by the Covid-19 Pandemic, but we have been here before during the last recession and we didn’t sink! Just like other times, we shall learn from it, rise and re-strategise.

How do you intend take advantage of the opportunities in your industry post COVID-19?

To take advantage of the opportunities ahead of us, there are 3 fundamental Ps we are already implementing: People, Prudence and Projects.

Projects: We have 3 major projects we have in the pipeline that will bring a minimum of 200% ROI to Sujimoto. Most projects will last a minimum of 1 year, so while other organisations are in limbo, folding their hands and waiting for the Pandemic to be over before they take any meaningful action, we have already started. By the time the world is ready to restart, we will be done!

Prudence: We have instituted a diligent spending culture by putting an Opportunity Per Cost (OPC) strategy to every penny spent. We shall only spend what is necessary NOW!

People: The Job market is saturated with lots of experienced hands who had been let off as a result of the COVID-19 pandemic and it is our intention to work ONLY with the best. Therefore, we will be employing ONLY the best and the essential.

Get the Nairametrics App

Are there any opportunities for savvy investors in your company post COVID-19?

Crises are opportunities disguised as problems! We have developed a highly viable and profitable strategy and found an opportunity for savvy investors to invest N5 billion into Sujimoto and get N10 billion back in 3 years. This is guaranteed!

Treasury bills and other money market instruments will give you 5 – 10% ROI on your investment but this is 100% ROI and it is guaranteed!

This investment is NOT for everyone, it is ONLY for the vital few, who can identify opportunities, when they see one. Please contact me directly via my email suji@sujimotonig.com, and I will be available to meet ONLY the vital serious few.

It’s simple, we are looking for the Warren Buffets who are able to discern opportunities and grab them! We will not quickly forget Ronald Wayne who sold his Apple shares in 1976 for $800. Today, that share is worth 90 billion dollars!

In all my projects, I always try to invite few friends to invest early. Many invest with me and make 200% ROI, while others simply take it for granted!

Some people say that there are more than 2,000 empty apartments in Banana Island, Ikoyi and VI, but how does that affect you?

When you negotiate the price of greatness, you pay the full price for mediocrity. For us at Sujimoto, we do not know what ‘empty apartment’ means because in the heat of 2016/17 recession, we sold out projects in Ikoyi. Our just concluded Giuliano project in Banana Island was sold-out 6 months before completion! Not only did we sell out, we have also witness about 3 other resale, where a lady bought at N350 million and she sold for N480 million, making N130 million in 11months.

At Sujimoto, we have only two things going for us, Quality and Integrity. I have no sponsors; no rich Father or powerful Aunt, all I have is my Word and an addiction to Quality.

Will there be any major changes to the way you do business post COVID-19?

Change is the only thing that is permanent. We will be doing a lot more of commercial real estate than residential. As a matter of fact, we don’t want to do a lot of off-plan sales anymore except for special residential off-plans.

We will also focus on building private projects for people. We are also interested in lands in Ikoyi or Banana Island for outright sale or JVs. Anyone who has a good land in a great location can contact me directly, OWNERS ONLY please.

EDITOR’S NOTE: This is a sponsored content.