Thursday, October07, 2021 / 03:05 PM / by NGX / Header Image Credit: NGX

NigerianExchange Group Plc ('NGX Group' or 'The Group') today confirmed its intentionto list on the Main Board of Nigerian Exchange Limited ('NGX'). Theproposed listing follows the successful completion of the demutualisationand restructuring of the former Nigerian Stock Exchange and its relatedoperations within the new NGX Group.

Sharesof NGX Group are expected to commence trading on NGX following their Listing byIntroduction. All regulatory requirements have been fulfilled and the Listinghas received the approval of NGX Regulation Limited.

Atotal of 1,964,115,918 shares are expected to be admitted to trading and theshares will trade under the ticker NGXGROUP.

OscarN. Onyema, OON, Group Managing Director/ChiefExecutive Officer of NGX Group, said; "I am pleased to confirm that The Groupintends to move ahead with its Listing by Introduction on the Main Board of NGXExchange. Together with many other listed companies, NGX Group will takeadvantage of the strategic opportunities open to quoted companies in Nigeria. Asa listed entity, The Group will have access to the widest range of newinvestors, including the growing pool of institutional investors.Demutualisation has created many new possibilities for The Group and ourlisting is just one more step in our evolution".

OtunbaAbimbola Ogunbanjo, Group Chairman of NGXGroup also stated: "The Group expects the Listing to bring significant benefitsto its business and its stakeholders. NGX Group will enhance its strategicflexibility by creating new financing opportunities and partnershippossibilities, while diversifying its shareholder base. This milestone willopen up The Group's capital to new investors within the Nigerian investingpublic as well as international institutions thereby reinforcing NGX Group'spresence in international capital markets, and for its current long-termshareholders, it will create the possibility to realise value".

The stockbrokers to the listing of NGX Group areChapel Hill Denham Securities Limited and RMB Nigeria Stockbrokers Limited. TheFinancial Advisers to NGX Group are Chapel Hill Denham Advisory Limited andRand Merchant Bank Nigeria Limited.

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