The Nigerian Stock Exchange (NSE) has said plans are underway for the listing of ordinary shares of the Nigerian Exchange Group holding group (NGX Group Plc) and its emergent subsidiaries for public trading at the stock market.
The NGX Group Plc was created as the parent company for the NSE and its operating structures with its three operating subsidiaries – Nigerian Exchange Limited (NGX), the operating exchange; NGX Regulation Limited (NGX REGCO), the independent regulatory arm; and NGX Real Estate Limited (NGX RELCO), the real estate company – forming the group.
Meanwhile, the NSE said it is looking forward to launching its first derivative product in 2021 after the NG Clearing Limited received approval in principle from the Securities and Exchange Commission (SEC) to launch clearing and settlement of exchange traded derivatives products as Nigeria’s premier Central CounterParty (CCP) house.
Speaking to newsmen during the NSE’s 2020 Market Recap/2021 outlook yesterday in Lagos, Chief Executive Officer, NSE, Oscar Onyema, said the listing of the shares is expected to be the first order business once the exchange gets approval of the ongoing demutualisation (conversion).
He added that its listing will be by introduction – a process that allows the scheme shares from the demutualisation.