The Nigerian Exchange Group Plc recently disclosed that it will list 1,964,115,918 shares by introduction on the main board of the Nigerian Exchange (NGX) Limited.
The group said it had received regulatory approval from NGX Regulation Limited to trade under the ticker NGXGROUP to list by introduction at 50 kobo each at an indicative price of N17.17 per share.
Listing by introduction implies the company is not raising capital (through IPO) immediately. It has also satisfied all regulatory requirements for listing.
Speaking at the virtual Facts Behind the Listing presentation of NGX Group Plc on Monday in Lagos, Temi Popoola, chief executive officer of NGX Limited, said the move would provide liquidity to members while stimulating the capital market ecosystem.
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