BY KENNETH EZE
The management of the Nigerian Exchange Group Plc. has said that the group would be listed on the Nigerian Exchange Limited on Friday, October 15.
This follows approval after facts behind the figures presentation last Friday. The NGX Group will undergo a ‘Listing by Introduction’ with 1,964,115,918 shares admitted to trading under the ticker, NGXGROUP.
In compliance with the approval, it was learn that the register of members of the company would remain closed till Thursday, 14th October 2021, for update of the register of members.
It will be opened on Friday, 15th October 2021, when trading on the equities of company is scheduled to start.
The Chairman, NGX Group, Otunba Abimbola Ogunbanjo, said, “We are delighted to move ahead with the Listing by Introduction of NGX Group on the main board of NGX at this pivotal moment in the evolution of NGX Group.
“I must commend the professional advisers to this transaction for the dedication and strict adherence to global best practices that have 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.”
Similarly, the Group Managing Director/Chief Executive Officer, NGX Group, Oscar Onyema, noted that the exchange was particularly excited about the planned listing because its platform would position the NGX to provide liquidity to the group’s members.
In turn, NGX Group would 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,” Onyema said.
The Point report that 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 with Aluko and Oyebode acting as Legal Advisers.
It was learnt that from the due date, interested investors can purchase shares in the group through trading license holders on NGX.
