Listing on NGX allows for public participation – Stakeholders

Stakeholders in the nation’s capital market have said that listing of shares on the Nigerian Exchange (NGX) create opportunity for democratization and public participation.

They commended NGX for providing a vibrant listing platform for government and corporates to meet their business objectives.

On the improvement opportunities in the listing process, they also argued that there is a need to shorten the time to market and reduce the cost of transactions.

Sharing optimism for the future of the capital market, it was also noted that the regulatory process has improved over the past decades with significant progress under the current administration.

Chief Executive Officer of BUA Foods Plc, Engr Ayodele Abioye, said that the open participation has enhanced the credibility of the BUA brand

He said “Listing on NGX presents opportunities for companies to raise capital, fund business growth and implement expansion plans.

According to him, “In the first few weeks of our listing our shares valued at N18 billiin on the Exchange, increased by 66 per cent. As our share prices continue to stabilize, our shareholder base has grown by about 400 per cent since listing on the Exchange and we are beginning to see investors’ confidence in our business.”

Speaking on the benefits derived from listing on the Exchange, Chief Executive Officer MTN Nigeria Communications Plc, Mr. Karl Toriola, noted that MTN has received incredible support from NGX in its listing journey, which has enabled the brand to deepen and diversify its shareholder base. He mentioned that NGX’s corporate governance requirements and strong guidance provide credibility around the capital market and grant access to the wider public.

He further explained that MTN Nigeria’s recent public offer launched on the Exchange saw about 78% percent of women subscriptions with 80% under the age of forty-one which shows the drive for financial inclusivity.