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NGX Group lists 1.96bn shares, adds N34.8bn to market capitalisation

…Listing will attract institutional investors – Onyema

Nigerian Exchange Group Plc yesterday successfully listed its shares on the Main Board of Nigerian Exchange Limited (‘NGX’ or ‘The Exchange). A total of 1,964,115,918 shares at a listing price of N16.15 per share were admitted to trading, representing the issued share capital of the group as at the time of listing. At the end of trading, the share price rose to N17.75 per share, representing an increase of N1.6 per share of 9.91 per cent as investors traded a total of 3.562 million shares in 31 deals, adding N34.863 billion to market capitalisation.

The shares listed satisfied the listing requirements of The Exchange and obtained relevant regulatory approvals, as NGX Group is now listed in the Financial Services and Capital Market Infrastructure sector of the Exchange, with the ticker “NGXGROUP.” The Group Managing Director/ Chief Executive Officer, NGX Group, Mr. Oscar Onyema, said the listing 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,” he said.

The Chief Executive Officer, NGX, Mr. Temi Popoola, said the listing will position NGX Group to provide liquidity to members while stimulating the capital market ecosystem to grow at the same pace as the economy. Also 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.




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