The Nigerian Exchange Group (NGX Group) has launched NGX Invest, a digital platform designed to streamline public offerings and rights issues in the Nigerian capital market.
The Group, in a statement on Friday, said the platform, approved by the Securities and Exchange Commission (SEC), is now live.
It further stated that NGX Invest would provide an efficient, convenient and seamless experience for managing primary market transactions, adding that it represents a significant leap forward in improving stakeholders’ experiences within Nigeria’s capital market.
“Building on the success of the country’s first digital public offering in 2021, which attracted over 150,000 new retail investors, 75 per cent of whom were female and 85 per cent under the age of 40.
“NGX Invest enhances transparency and accessibility in primary market transactions,”the Exchange said.
The capital market regulator said the launch of NGX Invest comes at a crucial time, coinciding with the Central Bank of Nigeria’s (CBN) banking recapitalisation directive.
It noted that the recapitalisation exercise had prompted numerous offers for subscription and rights announcements by Nigerian banks, and that both the CBN and SEC had provided robust regulatory support for the initiative.
Director-General of SEC, Emomotimi Agama, commended the initiative, adding that the e-offering platform aligns perfectly with the objective of future-proofing the Nigerian capital market.
Also, Alhaji Umaru Kwairanga, Group Chairman of the NGX Group, commended the regulators, noting that their supportive regulatory environment had provided a solid foundation that enabled the swift delivery of the platform.
