The Nigerian Exchange Group Plc (NGX Group) has announced plans to leverage organic and inorganic growth opportunities for business expansion across relevant business categories to increase global competitiveness.
The Group Chief Executive Officer, NGX Group, Mr Oscar Onyema who made the assertion at the virtual Facts Behind the Listing presentation of NGX Group Plc at the Nigerian Exchange (NGX) Limited on Monday in Lagos said the strategic focus of the company was to boost scale and scope through consolidation, as well as diversifying across value chain to develop its business model as a fully integrated market infrastructure service provider.
The Facts Behind the Listing presentation was in preparation of the listing by introduction of the NGX Group on the NGX platform.
Onyema assured stakeholders that the market was well positioned to create new financing opportunities and partnership possibilities, while diversifying its shareholder base.
Onyema said the listing of the 1.96 billion shares would open up NGX Group’s capital to new investors within the Nigerian investing public and international institutions, thereby reinforcing its presence in international capital markets.
“It further reinforces NGX Group’s brand leadership, legacy and attractiveness as Africa’s Exchange hub; access to wider and deeper pool of capital from a broader universe of international domestic market; liquidity for shareholders; price discovery driven by liquidity among others.”
“Having successfully demutualised the exchange, the NGX Group will actively forge ahead with its aspirations to become Africa’s preferred Exchange Hub.
“NGX Group aspires to increase its regional impact by helping more companies unlock their growth potential, providing new accessible opportunities for citizens to create durable wealth.
“Better supporting governments to achieve inclusive growth and sustainable decelopments; we aim to be a leading force in consumer experience by leveraging emerging technologies to create smart products and diversity services with a focus on market leadership and empowerment.
“To build an integrated, multi-exchange business with diversified revenues through identification of growth opportunities, expansions of current business lines and development of new products market across Africa and beyond,” he said.
He pointed out that 20 per cent free float requirement standard was already available to be freely traded by the public after listing.
Free float is a measure of actual availability of stocks of a company in the market for public investment.
Onyema added that the NGX Group was positioned to run with its growth aspirations while responding to changes in its operating environment.
He noted that the group would continue to ensure sustainable business and inclusive growth.
“We are operating in a very attractive market dynamics, we have a diversified business model and we have a strong competitive positioning because of our strategic partnerships around the world and we have a clear expansion plan,” he added.
Onyema noted that the company’s shares would likely be listed on the NGX on Oct. 13.
The Chief Executive Officer of the NGX, Mr Temi Popoola, on behalf of the board, congratulated the NGX Group for the successful demutualisation exercise, transforming the group from a member owned to a shareholder based entity.
Popoola said that the demutualisation had positioned the Exchange to provide liquidity to members while stimulating the capital market ecosystem to grow at the same pace as the economy.
The stockbrokers to the listing of NGX Group are Chapel Hill Denham Securities Ltd., and RMB Nigeria Stockbrokers Ltd.
The issuing house(s)/financial adviser(s) are Chapel Hill Denham Advisory Ltd and Rand Merchant Bank Nigeria Ltd.