NGX Group officially lists 1.96bn shares

The Nigerian Exchange Group has achieved a significant milestone with the successful listing of 1.96 billion shares on the main board of the Nigerian Exchange Limited by way of introduction. In a recent interview with CNBC Africa, Oscar Onyema, the Group CEO of the NGX Group, Abimbola Ogunbanjo, the Group Chairman of NGX Group, and Temi Popoola, CEO of the Nigerian Exchange Limited, discussed the implications and benefits of this listing for the group and prospective investors. Oscar Onyema emphasized the group's commitment to compliance with all rules and regulations applicable to ensure they serve as a benchmark for other listed entities. The group has a strong corporate governance framework in place to lead from the front and adhere to global best practices. Abimbola Ogunbanjo echoed these sentiments, highlighting the importance of post-demutualization governance and effective regulation in maintaining the exchange's reputation. The listing signifies a new phase in the evolution of the group, democratizing ownership and providing growth opportunities for both institutional and retail investors. In terms of value creation for shareholders, Oscar Onyema outlined the group's focus on profitability, sustainability, and stakeholder alignment. With a diversified business model and strategic partnerships, the group aims to capitalize on market dynamics and drive attractive returns for shareholders. Temi Popoola delved into the group's expansion plans, emphasizing a move beyond Nigerian borders and partnerships to diversify revenue streams. The group's subsidiaries and investments in associate companies position it as a substantial player in the financial market value chain. On the issue of liquidity and market progress, Timi Popoola discussed strategies to deepen liquidity, attract retail investors, and foster innovation through technology and partnerships. The future outlook is promising, with a focus on democratizing finance and capitalizing on digital transformation. The group chairman, Abimbola Ogunbanjo, highlighted the historical significance of the listing as the 136th company on the main board and the culmination of the demutualization process. The listing aims to democratize ownership, provide liquidity, and enable capital growth and returns for both institutional and retail investors. In conclusion, the listing of 1.96 billion shares on the Nigerian Exchange Limited marks a significant milestone for the NGX Group, signaling a new phase of evolution and growth opportunities. The group's commitment to compliance, governance, and value creation positions it as a leading entity in the financial market, poised for expansion and sustainability in the future.