NGX Group Receives Approval to List from NGX


Nigerian Exchange Group Plc ('NGX Group' or 'The Group') has received approval from Nigerian Exchange Limited (NGX or The Exchange) to list its shares on the main board of NGX on Friday, 15 October 2021. NGX Group will undergo a Listing by Introduction with 1,964,115,918 shares admitted to trading under the ticker, NGXGROUP.


In light of the foregoing, the register of members of the Company shall remain closed until Thursday, 14 October 2021 to complete the update of the register of members. It will be opened on Friday, 15 October 2021 when trading is scheduled to commence.

Proshare Nigeria Pvt. Ltd.

Speaking on this development, the Group Chairman, NGX Group, Otunba Abimbola Ogunbanjo, stated, thus, "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 has 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.


The Group Managing Director/Chief Executive Officer, NGX Group, Oscar N. Onyema, OON, noted that, "We are particularly excited about the planned listing because The Exchange's platform will position us to provide liquidity to The Group's members. In turn, NGX Group will 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".


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; Aluko and Oyebode acted as Legal Adviser.


Interested investors can purchase shares in The Group through Trading License Holders on NGX.

Proshare Nigeria Pvt. Ltd.

Related News

1.       NGX Group Upholds Global Best Practices Ahead of Planned Listing by Introduction

2.      NGX Group Confirms Intention to List on NGX

3.      NGX Group Notifies of Change of Name and Brand Identity Post-Demutualisation

4.      Demutualisation: Oscar Onyema Completes Tenure as NSE CEO, Transitions into Group CEO

5.      NSE Completes Demutualisation, SEC and CAC Approve

6.      NGX Group Launches New Brand Identity and Website - Apr 13, 2021

7.      Nigerian Exchange (NGX) Limited Offers Free Training to Derivatives Traders - Apr 07, 2021

8.     Demutualisation: Oscar Onyema Completes Tenure as NSE CEO, Transitions into Group CEO - Apr 06, 2021

9.      SEC Approves Appointment of CEOs of Demutualised Entities of The NSE - Apr 01, 2021

10.  Demutualization of NSE: Innovative Products Key to Deepening Capital Market - Mar 23, 2021

11.   NSE Demutualization Will Provide an Avenue for the Exchange to Achieve Greater Efficiency - Mar 11, 2021

12.  NSE Completes Demutualisation, SEC and CAC Approve - Mar 10, 2021

13.  Demutualisation: NSE Announces Chief Executives for Emerging Entities - Jan 06, 2021

14.  NSE Demutualisation Receives Boost as Court Sanctions Scheme of Arrangement - May 18, 2020

15.  NSE Members Assent to Demutualisation Resolutions at COM and EGM - May 03, 2020

16.  NSE Set to Hold Strategic Meetings As Demutualization Nears Completion - Feb 12, 2020

17.   Nigeria Stock Exchange (NSE) Prepares For Demutualisation, Advises Brokers To "Combine" - Feb 07, 2020

18.  NSE Demutualisation Crosses Major Hurdle As Buhari Signs Bill - Sep 27, 2018

19.  An Insight to the Regulatory Issue Arising from the Demutualisation of the NSE - Feb 17, 2018

20. Members Approved NSE Demutualisation Process - Mar 30, 2017

21.  NSE Announces Financial Advisers for Demutualisation​ - Oct 13, 2015

22. Brokers call on SEC board to publish guidelines for demutualisation - Mar 05, 2013

23. Demutualisation of NSE may begin in Q2 - Mar 01, 2012

24. SEC Inaugurates NSE's Demutualisation Committee - Sep 23, 2011

25. ASHON writes SEC on Council Members, Demutualisation - Apr 13, 2011

26. NSE restructures ahead of demutualisation plans - Mar 11, 2011

27.  Why a return to demutualisation would be a great relief - May 20, 2010

28. Demutualisation: Nobody will hijack NSE, Onyiuke - 2010

29. NSE Demutualisation to be Concluded in 2012 - Sep 28, 2010

30. NSE DG leaves office November 2010, suspends demutualisation - Nov, 2010

31.  Shareholder leader query NSEs proposed demutualisation - Jan 19, 2009

Proshare Nigeria Pvt. Ltd.

Related News