Kayode Tokede
The Chairman of The Nigerian Exchange Group (NGX), Umaru Kwairanga has stated that the group is projecting a N300 trillion market capitalisation with new listings because the capital market seeks an even bigger function in Nigeria’s drive in the direction of a $1 trillion financial system.
Kwairanga, who disclosed this on the thirtieth anniversary and annual awards dinner of the Association of Issuing Houses of Nigeria (AIHN) in Lagos, highlighted the necessity to entice extra retail buyers, deepen market participation and develop funding alternatives.
He stated the change had urged President Bola Tinubu’s administration to encourage extra state-linked corporations, notably within the power and expertise sectors, to listing in the marketplace to widen funding alternatives and strengthen the capital market.
He stated the change had additionally raised the prospect of fintech firm OPay itemizing in Nigeria earlier than pursuing an abroad itemizing, including that President Tinubu had requested the governor of the Central Bank of Nigeria (CBN) to look at the matter. OPay, he stated, was working in the direction of a home itemizing.
Kwairanga famous that expertise had reworked the capital market from guide processes to digital transactions, including that continued innovation can be important to attracting youthful buyers and making funding alternatives extra accessible.
He congratulated the affiliation for milestone achievement within the final three a long time, stressing that the NGX Group is at all times proud to affiliate with establishments which can be making an influence within the Nigerian capital market.
“AIHN is an association that has deepened the Nigerian market today,”he stated.
Speaking additionally, President of AIHN, Kemi Awodein, stated the affiliation would proceed to work with regulators, authorities and buyers to deepen the market, promote transparency and good governance, and encourage innovation to strengthen investor confidence.
Awodein stated the market had advanced significantly because the affiliation was established 30 years in the past, with devices resembling inexperienced bonds and book-building now forming a part of its improvement.
She described the capital market as a crucial channel for mobilising funds for funding, financial development, job creation and nationwide improvement.
At the anniversary dinner, AIHN recognised companies for his or her contributions to Nigeria’s capital market by way of its annual awards.
Stanbic IBTC Capital Limited emerged as a number one winner, taking dwelling Best Corporate Bond House, Best Commercial Paper House and Equity House of the Year.
Chapel Hill Denham Advisory Limited received Best Public Sector Bond House, Best DCM House and Best IB Firm of the Year.
Rand Merchant Bank received Best M&A Deal for Helios Investment Partners’ sale of its 75 per cent stake in Axella Limited, whereas Vetiva Advisory Services emerged as Best M&A House.
United Capital Plc was named Most Prolific Issuing House, whereas Iron Capital Markets received Prodigy Firm of the Year.
Eight companies shared the Best Corporate Sukuk Deal award for Taj Bank’s Series 2 Mudarabah Sukuk. They have been Ava Capital Partners, Greenwich Capital Markets, FCMB Capital Markets, Finmal Finance Services, FSDH Capital, Marble Advisory, One17 Financial Services and Tiddo Securities.
Seven companies shared the Equity Deal of the Year award for Zenith Bank’s rights challenge. They have been Stanbic IBTC Capital, Quantum Zenith Capital, CardinalStone Partners, Chapel Hill Denham, Coronation Merchant Bank, Meristem Capital and Vetiva Advisory Services.
Five companies obtained the Innovative Issuance award for the primary two sequence of the Ministry of Finance Incorporated Real Estate Investment Fund. They have been Vetiva Advisory Services, Constant Capital Markets & Securities, Parthian Partners, Iron Capital Markets and ICMG Securities.
