NGX Invest Praised for Driving Capital Growth and Expanding Investment Access
Detailed Breakdown:
1. Strong Support for Capital Raising by NGX Invest
• The NGX Invest platform has been praised by stakeholders for its successful track record in supporting companies’ capital-raising efforts. The Director-General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, highlighted that companies using NGX Invest have often achieved full subscription, with some reaching oversubscription levels.
2. Broad Investor Access in Recent Public Offerings
• Ladi Balogun, Group CEO of FCMB Group Plc, commended NGX Invest for enabling over 40,000 investors to participate in FCMB’s recent public offering, making it more accessible for a broader investor base to engage in capital markets.
3. FBN Holdings’ N150 Billion Rights Issue
• FBN Holdings Plc’s N150 billion rights issue, currently live on NGX Invest, is accessible on a one-for-six basis to existing shareholders. The platform provides an efficient and user-friendly way for eligible investors to take part in the rights issue digitally.
4. Strategic Importance of the Rights Issue
• At the “Facts Behind the Rights Issue” event, FBN Holdings Group Managing Director, Nnamdi Okonkwo, explained the significance of the capital raise, focusing on cost optimization, efficiency improvements, and revenue enhancement to expand both physically and digitally.
5. Alignment with CBN’s Capital Requirements
• With seven Nigerian banks, including FBN Holdings, now utilizing NGX Invest for rights issues and public offerings, this trend supports the Central Bank of Nigeria’s (CBN) new capital adequacy requirements. These mandates aim for a stronger capital base for banks by 2026. To date, NGX Invest has facilitated about ₦1.26 trillion (around $770 million) in capital raises within the banking sector.
6. NGX Invest as a Digital Game-Changer
• Temi Popoola, Group CEO of NGX Group, emphasized that NGX Invest’s secure and well-regulated platform is now a go-to choice for issuers aiming to distribute offerings digitally, enabling companies to reach a wider base and drive economic growth.
Detailed Breakdown:
1. Strong Support for Capital Raising by NGX Invest
• The NGX Invest platform has been praised by stakeholders for its successful track record in supporting companies’ capital-raising efforts. The Director-General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, highlighted that companies using NGX Invest have often achieved full subscription, with some reaching oversubscription levels.
2. Broad Investor Access in Recent Public Offerings
• Ladi Balogun, Group CEO of FCMB Group Plc, commended NGX Invest for enabling over 40,000 investors to participate in FCMB’s recent public offering, making it more accessible for a broader investor base to engage in capital markets.
3. FBN Holdings’ N150 Billion Rights Issue
• FBN Holdings Plc’s N150 billion rights issue, currently live on NGX Invest, is accessible on a one-for-six basis to existing shareholders. The platform provides an efficient and user-friendly way for eligible investors to take part in the rights issue digitally.
4. Strategic Importance of the Rights Issue
• At the “Facts Behind the Rights Issue” event, FBN Holdings Group Managing Director, Nnamdi Okonkwo, explained the significance of the capital raise, focusing on cost optimization, efficiency improvements, and revenue enhancement to expand both physically and digitally.
5. Alignment with CBN’s Capital Requirements
• With seven Nigerian banks, including FBN Holdings, now utilizing NGX Invest for rights issues and public offerings, this trend supports the Central Bank of Nigeria’s (CBN) new capital adequacy requirements. These mandates aim for a stronger capital base for banks by 2026. To date, NGX Invest has facilitated about ₦1.26 trillion (around $770 million) in capital raises within the banking sector.
6. NGX Invest as a Digital Game-Changer
• Temi Popoola, Group CEO of NGX Group, emphasized that NGX Invest’s secure and well-regulated platform is now a go-to choice for issuers aiming to distribute offerings digitally, enabling companies to reach a wider base and drive economic growth.