As equities maintain uptrend
By Peter Egwuatu and Nkiruka Nnorom
Nigerian Exchange Limited, NGX, has admitted the Nigerian Exchange Group Plc, NGX Group, on its Daily Official List, DOL, following the successful listing of 1,964,115,918 ordinary shares valued at N16.15 per share on its Main Board on Friday.
A total of 3.56 million ordinary shares of the Exchange were traded by investors in 31 deals during the day.
Upon the listing the NGX Group’s share price rose by 9.9 per cent or N1.60 per share to close after the first day trading at N17.75 per share, thus adding N34.9 billion to the total market capitalization which closed at N21.6 trillion.
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”.
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, 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