Nigerian Exchange Group Plc (NGX Group) has successfully listed its shares on the Main Board of Nigerian Exchange Limited (NGX) at N16.15 per share equivalent to a market capitalization of N31.7 billion.
Having satisfied the Listing Requirements of The Exchange and obtained relevant regulatory approvals, NGX Group is now listed in the Financial Services and Capital Market Infrastructure sector of the Exchange, with the ticker “NGXGROUP”.
A total of 1,964,115,918 shares were admitted to trading, representing the issued share capital of the Group as of today.
Commenting on the listing, the Group Chairman, Nigerian Exchange Group Plc, Otunba Abimbola Ogunbanjo said, “Today’s Listing of NGX Group on NGX is another milestone attained pursuant to the Group’s 2018 – 2021 corporate strategy. Our shareholder base has more than doubled since our demutualisation in March 2021 and our valued shareholders will benefit from the enhanced liquidity that listing on The Exchange will facilitate. This listing will also enable a much wider universe of potential investors and market participants to share in our growth journey. As a Board, we embrace the letter and spirit of the listing requirements and we are committed to transparent disclosure, proactive stakeholder engagement and exemplary corporate governance.”
The Group Managing Director/Chief Executive Officer, NGX Group, Mr. Oscar N. Onyema, OON, stated, “Today’s listing of NGX Group on the nation’s premier Exchange, NGX, will enable institutional investors globally as well as the Nigerian public to invest in Nigerian Exchange Group Plc. With strengthening market dynamics, serving the largest economy in Africa, NGX Group’s listing allows us to expand in key capital market infrastructure verticals and look beyond Nigeria’s borders, as we deliver on our growth plans to become Africa’s leading capital market infrastructure group.”
The Chief Executive Officer, NGX, Mr. Temi Popoola, CFA, commented on the milestone listing stating,
“We are excited to welcome NGX Group to the main board of The Exchange and we congratulate the Board and Management first on a successful demutualisation and on its subsequent listing. This move is particularly exciting, as it will position NGX Group to provide liquidity to members while stimulating the capital market ecosystem to grow at the same pace as the economy. Today, we reiterate our commitment to being a trusted partner to NGX Group and other listed companies as we continue to build a platform that allows our listed companies, investors and other stakeholders to maximise value in our market.”
Meanwhile, NGX Group has N10.87 billion (Ten Billion, Eight Hundred and Seventy Million, Three Hundred and Forty-Eight Thousand, Five Hundred and Six Naira, ThirtyFour kobo), as the total amount, including general damages, claimed against the Group (and US$411,500.00 (Four Hundred and Eleven Thousand, Five Hundred United States Dollars), as of July 2021.