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NGX Group listing on NGX excites market operators

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NGX Group listing on NGX excites market operators

By Itohan Abara-Laserian

Chapel Hill Denham Advisory Ltd has reached a milestone with the listing of Nigerian Exchange Group Plc (NGX Group) on the Board of Directors of Nigerian Exchange Ltd (NGX).

The Nigeria News Agency reports that a total of 1.96 billion shares of the NGX group were listed on the NGX platform by listing at N16.15 per share.

The listing was after the successful completion of the demutualization of the former Nigerian Stock Exchange and its related operations within the new NGX Group.

also reports that Chapel Hill Denham Securities Ltd acted as the sponsoring broker for the NGX group listing.

NGX Group Chairman Mr. Abimbola Ogunbanjo at the closing gong ceremony to commemorate the successful registration in Lagos on Friday described the development as a milestone.

Ogunbanjo said listing was the result of meeting listing requirements and obtaining relevant regulatory approvals.

“Today’s listing of the NGX group on NGX is another milestone in line with the group’s corporate strategy from 2018 to 2021.

“Our shareholder base has more than doubled since our demutualization in March 2021 and our valued shareholders will benefit from the increased liquidity facilitated by listing on the stock exchange.

“This listing will also allow a much broader universe of potential investors and market players to share our growth journey,” said Ogunbanjo.

Group Managing Director / NGX Group CEO Mr. Oscar Onyema said the listing would allow institutional investors around the world as well as the Nigerian public to invest in NGX Group.

“Serving Africa’s largest economy, NGX Group’s listing allows us to expand into key capital market infrastructure verticals and look beyond Nigeria’s borders as we deliver on our plans. growth to become the leading capital market infrastructure group in Africa, ”said Onyema.

Also speaking, NGX Chairman and CEO Mr. Temi Popoola welcomed NGX Group to the Main Board of the Exchange.

Popoola congratulated the Board of Directors and management on a successful demutualization and subsequent listing.

“This decision is particularly exciting, as it will position NGX Group to provide liquidity to members, while stimulating the capital market ecosystem to grow as the economy grows.

“Today, we reiterate our commitment to be a trusted partner of the NGX Group and other listed companies as we continue to build a platform that enables our listed companies, investors and other stakeholders to maximize value. in our market, ”he said.

Speaking at the registration ceremony, Kemi Awodein, Managing Director of Chapel Hill Denham Advisory, congratulated the NGX Group on this milestone event.

“We are certain that this listing will allow NGX Group to find its true value, as well as to increase its profile. Chapel Hill Denham is proud to have worked with the NGX Group on this historic transaction, ”said Awodein.

Mr. Akeem Shadare, Managing Director of Chapel Hill Denham Securities Ltd, said: “This will expand ownership of the NGX Group and provide a new sector available to investors on NGX. ” (Www.)

reports that at the end of trading, the share price rose to N17.75 per share, which represents an increase of N 1.60 per share or 9.91 percent.

Source: NAN

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