NGX Group e-offering platform goes live

Nigerian Exchange Group (NGX Group) has launched NGX Invest, a digital platform designed to simplify Public Offerings and Rights Issues in the capital markets.

This follows the platform’s approval by the Securities and Exchange Commission (SEC).

NGX Invest is dedicated to primary market transactions in the country, which is a significant leap forward in enhancing the stakeholder experience in the Nigerian capital markets.

Building on the country’s first digital public offering in 2021 that attracted over 150,000 new retail investors, 75% of whom were women and 85% were under 40 – NGX Invest is enhancing transparency and accessibility in primary market transactions.

The launch of NGX Invest coincides with the Central Bank of Nigeria’s (CBN) bank recapitalisation directive which has prompted a flurry of subscription offers and rights announcements by banks.

Both the CBN and the SEC have provided regulatory support for the initiative.

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Investors can now access the platform at https://invest.ngxgroup.com.

It was gathered that Access Holdings Plc, FCMB Group and Fidelity Bank Plc have already leveraged the NGX Invest API to distribute their offerings to retail investors.

Speaking on the initiative, SEC Director-General, Dr. Emomotimi Agama, said: “The e-Offering platform is aligned with our goal of future-proofing the Nigerian capital market. By digitizing and automating the financial intermediation process, we are fostering a more efficient, transparent and inclusive capital market.”

NGX Group Chairman, Alhaji Umaru Kwairanga, commended the regulators for their support.

He said: “The supportive regulatory environment has provided a solid foundation that has enabled the rapid delivery of the platform. This reflects our shared commitment to market development and will undoubtedly contribute to increasing retail investor participation in the capital markets.

“As we seek to enable markets to play a greater role in Nigeria’s economic development, technology integration, strong partnerships and collaboration, along with a positive policy environment, will be critical.”

By: Babajide Okeowo

NGX Group e-offering platform goes live first appeared on Latest Nigeria News | Top Stories from Ripples Nigeria.