Aluko & Oyebode is delighted to have acted as sole legal adviser to Nigerian Exchange Group Plc (“NGX Group”) in connection with the landmark listing by introduction of its 1,964,115,918 ordinary shares on the Main Board of Nigerian Exchange Limited (the “Listing”).
The Listing was effected after due compliance with the listing requirements of NGX and the receipt of relevant approvals from the Securities and Exchange Commission and NGX Regulation, in accordance with extant securities laws and regulations.
The Listing follows the demutualisation and restructuring of The Nigerian Stock Exchange Ltd/Gte, which culminated in the emergence of Nigerian Exchange Group Plc as a non-operating holding company with three wholly-owned subsidiaries, Nigerian Exchange Limited, NGX Regulation Limited and NGX Real Estate Limited.
The Listing will enhance liquidity for the shareholders of NGX Group and expediate the diversification of NGX Group’s investor base, as it is expected to attract a myriad of domestic and global institutional investors.
The Firm’s transaction team, which was led by Senior Partner, Olubunmi Fayokun, included Capital Market Partner, Ayodeji Oyetunde and Associate, Abisola Akinyemi.