NGX Group Digitalises Equity Capital-Raising With NGX Invest

By Aduragbemi Omiyale

A move to enhance efficiency and ensure regulatory compliance for all stakeholders in the capital market has been taken by the Nigerian Exchange (NGX) Group Plc.

The firm has introduced a cutting-edge web application known as NGX Invest, which is designed to transform the primary market equity capital-raising process, specifically public offers and rights issues.

This online capital-raising platform has been approved by the Securities Exchange Commission (SEC) and was introduced in line with NGX Group’s commitment to market development.

It is believed that it would boost retail participation in the capital market, promote financial inclusion and further deepen the pool of available capital in the market by enhancing its capabilities to fulfil the needs of Issuers and other market stakeholders.

“Today marks a pivotal moment in the evolution of the Nigerian capital market with the launch of NGX Invest.

“This platform not only enhances efficiency and reduces paperwork but also introduces unprecedented accuracy and speed to the capital-raising process.

“By infusing robust Know Your Customer (KYC) and Anti-Money Laundering measures, we are also ensuring a secure and compliant investment environment, fostering trust and confidence among all market participants.

“We believe NGX Invest will spur market development, bolster the technological capabilities of our operating exchange, NGX Limited, and significantly increase retail participation, ultimately contributing to the overall growth and liquidity of the market,” the chief executive of NGX Group, Mr Temi Popoola, stated.

NGX Invest represents a significant leap forward in digitalizing the equity capital-raising process.

By minimising paperwork and offering a streamlined digital experience, the web app is poised to revolutionize interactions among issuers, brokers, institutional investors, and retail investors within the primary market.

Stakeholders are expected to benefit from the enhanced efficiency, streamlined due diligence capabilities, ease of use and accessibility, faster information dissemination and seamless compliance with regulatory requirements among other features provided by the platform.