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NGX Group Announces Successful Listing on NGX

Oct 15, 2021   •   by   •   Source: Proshare   •   eye-icon 866 views

NigerianExchange Group Plc ('NGX Group' or 'The Group') is delightedto announce the successful listing of its shares on the Main Board of NigerianExchange Limited ('NGX' or 'The Exchange').


Havingsatisfied the Listing Requirements of The Exchange and obtained relevantregulatory approvals, NGX Group is now listed in the Financial Services andCapital Market Infrastructure sector of the Exchange, with the ticker "NGXGROUP". A total of 1,964,115,918 shares were admitted to trading,representing the issued share capital of the Group as of today.


Commentingon the listing, the Group Chairman, Nigerian Exchange Group Plc, OtunbaAbimbola Ogunbanjo said, "Today's Listing of NGX Group on NGX is anothermilestone attained pursuant to the Group's 2018 - 2021 corporate strategy. Ourshareholder base has more than doubled since our demutualisation in March 2021and our valued shareholders will benefit from the enhanced liquidity thatlisting on The Exchange will facilitate. This listing will also enable a muchwider universe of potential investors and market participants to share in ourgrowth journey. As a Board, we embrace the letter and spirit of the listingrequirements and we are committed to transparent disclosure, proactivestakeholder engagement and exemplary corporate governance".

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TheGroup Managing Director/Chief Executive Officer, NGX Group, Mr. Oscar N.Onyema, OON, stated, "Today's listing of NGX Group on the nation's premier Exchange,NGX, will enable institutional investors globally as well as the Nigerianpublic to invest in Nigerian Exchange Group Plc. With strengthening marketdynamics, serving the largest economy in Africa, NGX Group's listing allows usto expand in key capital market infrastructure verticals and look beyondNigeria's borders, as we deliver on our growth plans to become Africa's leadingcapital market infrastructure group".


TheChief Executive Officer, NGX, Mr. Temi Popoola, CFA, commented on the milestonelisting stating, "We are excited to welcome NGX Group to the main board of TheExchange and we congratulate the Board and Management first on a successfuldemutualisation and on its subsequent listing. Thismove is particularly exciting, as it will position NGX Group to provideliquidity to members while stimulating the capital market ecosystem to grow atthe same pace as the economy. Today, we reiterate our commitment tobeing a trusted partner to NGX Group and other listed companies as we continueto build a platform that allows our listed companies, investors and otherstakeholders to maximise value in our market".


NGXGroup has issued a listing by introduction Information Memorandum in relationto the listing. A copy of the Listing Memorandum is available on the website of the Group.

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