MIRI Emerging Markets Fund Dumps 150,000 Shares of NGX

The MIRI Strategic Emerging Markets Fund LP has dumped 150,000 Shares in the Nigerian Exchange Group (NGX).

The 150,000 shares were sold at N27.61 per share, on March 08, 2023, according to a filing on the NGX.

MIRI Strategic Emerging Markets Fund’s exit comes as the Nigerian Exchange Group (NGX), struggles with its core operations as the exchange posted an operating loss of N1.32 billion for the 2022 financial year.

NGX only managed to post an after-tax profit of N698 million, down 68% from 2021 levels after the addition of N2.2 billion in dividends received from the Central Securities Clearing System Plc or (CSCS).

The Nigerian Exchange Groups (NGX), personnel expenses also rose by 13.4 percent to N3.66 billion in 2022, despite its poor operating results.