NASD Plc, which operates the NASD Over-the-Counter (OTC) Securities Exchange, has announced the admission of the shares of the Nigerian Exchange Group PLC (NGX) for trading on its platform.
In an announcement on Tuesday, April 13, the only OTC bourse in the country noted that the move comes after the successful demutualisation of the Nigerian Stock Exchange (NSE) now known as the NGX Group PLC.
NGX Group shares became available for trading by licensed participating institutions or authorised traders registered on the NASD platform from Tuesday.
The demutualisation of the exchange has led to the emergence of the NGX Group Plc and three subsidiaries; Nigerian Exchange (NGX) Limited, NGX Regulation (NGX RegCo) Limited and NGX Real Estate (NGX RelCo) Limited.
Mr Temi Popoola is the CEO of NGX Limited, while Ms Tinuade Awe was appointed as the CEO of NGX RegCo Limited.
Speaking earlier this month after the completion of his tenure as the CEO of the old NSE, Mr Oscar Onyema, honoured with the digital closing gong ceremony as he set to continue in his new capacity as the GCEO, NGX Group Plc, noted thus, “I arrived at The Nigerian Stock Exchange when the stock market was in the doldrums, investors’ confidence low, mono-product and the bourse under regulatory administration. With tunnel vision collaboration with stakeholders in the financial system and perseverance, we have been able to surmount almost all of the challenges.
“I am delighted to have worked with the astute members of the National Council, visionary leaders in the Executive Committee and expert crop of staff at The Exchange to have delivered excellent results. We have come a long way from where we used to be and I am excited about the opportunities demutualisation has opened for us in the coming years.
“I must reiterate my commitment to ensuring that the NGX Group Plc and its subsidiaries deliver on the mandate to become Africa’s leading capital market infrastructure provider. I look forward to deepening partnerships with existing stakeholders and exploring new collaborations locally and globally to bring this to bear.”
Business Post had reported that NGX launched its new corporate brand identity and website rendering the previous nse.com.ng obsolete.
The NGX brand identity follows a monolithic brand architecture, which will facilitate the formation of any new subsidiary by leveraging existing brand equity. The identity is inspired by the arrows of the stock exchange ticker tape as well as monetary exchange between a buyer and seller. These arrows are stylised to form an ‘N’ and denote the act of collaboration.
Together with the new vibrant, modern and responsive website, NGX Group offers an enriched user experience. Accessible via ngxgroup.com, information about the group and the various subsidiaries are independently situated but featured as one website.
