Equities

NGX Group Gets Approval, Now To List Friday On Local Bourse

Nigerian Exchange Group Plc says it has received approval from Nigerian Exchange Limited to list its 1,964,115,918 shares introduction on the main board of NGX on Friday, 15 October 2021, two days after it originally planned to.

Consequently, it said in a statement that the register of members would remain closed until Thursday, 14 October 2021 to complete the update of the register of members, before being opened on Friday, 15 October 2021 when trading is scheduled to commence.

Commenting, the Group Chairman, NGX Group, Otunba Abimbola Ogunbanjo, expressed delight at the progress recorded at this pivotal moment in the evolution of NGX Group.

He commended “the professional advisers to this transaction for the dedication and strict adherence to global best practices that has brought us to this milestone event. The Listing will bring significant benefits to The Group’s stakeholders and should enable The Group to enhance its strategic flexibility by creating new financing opportunities and partnership possibilities, while diversifying its shareholder base.”

Also, the Group Managing Director/Chief Executive Officer, NGX Group, Oscar Onyema, expressed excitement at “the planned listing because The Exchange’s platform will position us to provide liquidity to The Group’s members. In turn, NGX Group will have access to the widest range of new investors within the Nigerian investing public as well as international institutions thereby reinforcing The Group’s presence in international capital markets and delivering value to its long-term shareholders. In our new status as a listed company, we will maintain our key strategic focus geared at leveraging organic and inorganic growth opportunities for expansion of our business across relevant categories.”

The Stockbrokers to the listing of NGX Group are Chapel Hill Denham Securities Limited and RMB Nigeria Stockbrokers Limited. The Financial Advisers to NGX Group are Chapel Hill Denham Advisory Limited and Rand Merchant Bank Nigeria Limited; Aluko and Oyebode acted as Legal Adviser.

Interested investors can purchase shares in The Group through Trading License Holders on NGX.

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