The Nigerian Exchange (NGX) Group says its newly-launched e-offering platform called NGX Invest, will streamline Public Offerings and Rights Issues in the Nigerian capital market.
NGX which describes the new NGX Invest as “revolutionary” platform says it aligns with its effort to create a future where the distribution of securities is seamless, efficient, and enjoyable.
NGX Group plc, formerly known as the Nigerian Stock Exchange (NSE), is a leading market infrastructure in Africa, dedicated to enhancing the efficiency of Public Offerings and Rights Issues in the Nigerian capital market.
Temi Popoola, GMD/CEO, NGX Group, says the organisation is committed to driving the growth and competitiveness of African economies to achieve global prosperity.
NGX Group says that “NGX Invest is more than a platform – it is our commitment to empowering young Nigerians, democratising investment opportunities, and fostering retail participation.”
As a key player in Africa’s financial markets, NGX Group says that its offerings cut across a comprehensive range of services through its subsidiaries – NGX Exchange, NGX REGCO, and NGX RELCO. Additionally, the Group has investments in NG Clearing Limited, Central Securities and Clearing Systems (CSCS), OTC platforms, and three fintech companies, further solidifying its presence in the financial infrastructure space.
The group says that the launch of NGX Invest is a significant achievement for NGX Group, as the platform is designed to revolutionise equity issuance in primary markets by providing a seamless experience for managing public offers and rights issues. This platform builds upon the success of Nigeria’s first digital public offering in 2021, showcasing NGX Group’s commitment to innovation and technology in the market, the group says.
The NGX Group GMD/CEO extends its gratitude to its Board and partners, including the Securities and Exchange Commission, Nigeria (SEC), Central Bank of Nigeria (CBN), Central Securities Clearing System Plc, Nigeria Inter-Bank Settlement Systems PLC, and other valued capital market partners, for their continued support in facilitating efficient and seamless experiences for managing public offers and rights issues.
According to him, the collaboration between various entities has played a crucial role in bringing this groundbreaking project to fruition. “The NGX Group is proud to see its vision for NGX Invest becoming a foundational infrastructure for distributing financial products and driving the digital transformation of the Nigerian capital market.”
Leading banks such as Access Corporation, Fidelity Bank PLC, and Guaranty Trust have already started utilising the NGX Invest APIs to distribute their offerings to retail investors. These banks are considered “early adopters”, and their participation in the recapitalization process has been encouraged, according to NGX.
By simply visiting the NGX Invest website, individuals can begin their investment journey in public offers and rights. This easy access to investment opportunities is a significant step towards empowering young Nigerians, democratizing investment opportunities, and encouraging retail participation in the market, according to the group.
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