Sujimoto Opens N5bn Commercial Paper for Subscription at 25.06%
Luxury real estate player Sujimoto Holdings Limited has opened N5 billion commercial papers for subscription, Cowry Asset Management Limited told investors in an emailed note on Wednesday.
The investment firm said the company seeks to raise up to ₦5 billion in Naira Series 1 Commercial Papers under its ₦20 billion Commercial Paper Programme at a discount rate of 25.06%.
The luxury real estate and construction company focused on redefining living standards in Nigeria. Its commercial paper has a 270-day tenor at an implied yield of 30.86%, according to an investor note.
Sujimoto is rated BBB+ by DataPro, reflective of its position as a fast-developing construction company in Nigeria. Also underpinning the strong ratings is the well-capitalized fortress balance sheet, asset quality, strong profitability profiles, and proven and stable management team.
The company specializes in high-quality off-plan residential development, bespoke building for private clients, commercial hospitality projects, and government and institutional contracts.
“The company is committed to using top-tier materials, ensuring timely delivery, and providing excellent value to clients. Sujimoto also distinguishes itself by its plan to revolutionize the concrete supply industry in Nigeria through Sujimoto Ready-Mix”, Cowry Asset Limited told investors. #Sujimoto Opens N5bn Commercial Paper for Subscription at 25.06% Sell Action: Caverton Falls by 27.4% as Positive Price Momentum Fades
