BY KENNETH EZE
There are indications that equities of the Nigerian Exchange Group Plc listed by introduction last Friday at the Nigerian Exchange Limited are being warmly received by investors from the first day of trading.
Trading activities on the main board of the NGX monitored by The Point revealed that the entire issued and fully paid 1,964,115,918 ordinary shares of 50 kobo were listed at N16.15 per share.
The excitement that greeted the shares saw it close at a share price of N17.75, which translates to an increase of N1.60 on the opening day of trading on the equities.
The Point reports that the share price movement was achieved in 31 deals involving a volume of 3,562,076. In the same vein, after the first day of trading, market capitalisation stood at N34,863,057,544.50.
A market bulletin released, Friday from The Exchange, signed for its Head, Listings Regulation Department by Lilian Dako, put all trading license holders on notice of the development, so that the investing public would be encouraged to take advantage of the listing as might be desired.
It stated, “Trading License Holders are hereby notified that the entire issued and fully paid 1,964,115,918 ordinary shares of Nigerian Exchange Group Plc (NGX Group or the Company) were listed by Introduction on the Main Board of Nigerian Exchange Limited (the Exchange) on Friday, 15 October 2021.”
It also gave the background to the listing, “The listing is following the Exchange’s approval of the application to list the Company’s entire issued and fully paid 1,964,115,918 ordinary shares of 50 Kobo each at N16.15 per share,” the bulletin added.
Recall that the Group Managing Director, the Nigerian Exchange Group, Oscar Onyema resigned from the Board of company on Thursday to pave way for the listing the following day (Friday) in keeping with global corporate governance standards.
The Nigerian Exchange Group would be trading at the NGX with the ticker NGXGROUP.
