By Dipo Olowookere
Shares of the Nigerian Exchange Group (NGX Group) Plc will soon be available for trading on the floor of the NGX Limited.
At the moment, the securities of the demutualised Nigerian Stock Exchange (NSE) are transacted on the NASD over-the-counter Securities Exchange.
According to information, the NGX Group shares would be listed on the main stock exchange of Nigeria by introduction in the future and plans are ongoing to make this a reality as soon as possible.
Ahead of the listing, the NGX Group held an analyst call on Wednesday, July 7, 2021, where the management provided key insights into the setup of the new structure, current operations and plans.
At the virtual event, the Group Managing Director/Chief Executive Officer of NGX Group Plc, Mr Oscar Onyema, said the acceptance of the shares of the organisation at the OTC market was an indication that it would be highly welcomed at the main exchange.
Mr Onyema said at the start of demutualisation, NGX Group had 432 shareholders, a number that has doubled since NASD Exchange trading commenced in April 2021.
According to him, this shows strong prospects for the new types of investors NGX Group can attract once it lists by introduction on NGX, noting that the group was positioned to exploit the new world of possibilities that have opened up.
In what was an engaging session, analysts further engaged the CEOs on issues around the activities of NGX by way of listings and the introduction of Exchange Traded Derivatives (ETDs) to the market.
Of particular interest was also NGX RegCo and the stringent policies it has put in place to maintain independence in its regulation of NGX Group, NGX and the capital market as a whole; as well as the new business lines that NGX RelCo will open up for the group.
Present also at the webinar were the CEO of NGX Limited, Mr Temi Popoola; the CEO of NGX Regulation (NGX RegCo) Limited, Ms Tinuade Awe; the Acting CEO of NGX Real Estate (NGX RelCo) Limited, Mr Gabriel Igbeka; and the Group Chief Financial Officer of NGX Group Plc, Mr Cyril Eigbobo.
The facilitators for the event were the Investor Relations Consultants, Vaerdi and the Financial Advisers, Rand Merchant Bank.
Business Post reports that when shares of NGX Group were admitted on the NASD OTC Exchange, it was at N25.00 per unit but at the close of transactions on Thursday, July 8, 2021, it traded at N17.55 per unit.
It was the lone price gainer at the market yesterday after it added 19 kobo or 1.1 per cent to its equity value.
