The Nigerian Exchange Limited (NGX), yesterday said it is targeting more listings on its platform as it is currently in discussions with some companies to list on the market. This was even as the Exchange in partnership with the Chartered Institute of Stockbrokers (CIS) held a farewell session, mock-trading and closing gong ceremony in honour of late Otunba Subomi Balogun, FCS, CON.
Speaking during the ceremony, the Chief Executive Officer, NGX Limited, Temi Popoola, stated that the late Subomi Balogun was a blessing to the capital market as he ensured he looked out for the best for the Exchange.
He also revealed that the NGX is still in discussions with companies to list on the exchange. “We cannot thank him enough for what he contributed toward the growth of our market. We are discussing some listings on the exchange. If you look across the country, it is hard to sort of identify another family like the Baloguns that can represent the exchange as they are presently doing. We are very grateful and they can count on our support going forward as the family continues to drive their strategic goals”, Popoola said.
Also speaking, the Group Chief Executive, FCMB Group Plc, Ladi Balogun, while commending the leadership of the exchange and the CIS, said this is an encouragement for our family to keep his legacy on. “Whilst this has been a very emotional time for our family, the way our father has been honoured by the exchange, CIS and the entire country is truly inspiring to us.
It is motivating us to go further, do better and make sure that his legacy lives on. We will not be alone in doing that.
We will make sure we uphold his values and seek ways together with the exchange to transform the market and the economy”., Balogun said.
For his part, the CIS President, Oluwole Adeosun, said, “We are celebrating the life of a colossus, Otunba Subomi Balogun who was the pioneer first Vice President of our Institute. We commiserate with the family and will keep remembering his deeds in the capital market”.
In his remark, the Chairman, NGX Group, Alhaji Umaru Kwairanga, noted that Otunba was instrumental to the establishment of investment banking in Nigeria and laid many of the first equity offerings in the country during his time at ICON Securities while adding that he has left a huge legacy and monuments that has testified his greatness far into the future and succeeded in doing so.
Meanwhile, proceedings on the floor of the NGX resumed the month of July on a positive note, as price appreciation in the shares of AccessCorp, UBA, Japaul Gold and Transcorp, pushed the All Share Index (ASI) 1.61 per cent higher to close the session at 61,948.99 points from an opening value of 60,968.27 points.
Similarly, market capitalization gained N534 billion from N33.197 trillion recorded last week Friday to N33.731 trillion. Accordingly, the year-to-date (YTD) return stood at +20.87 per cent.
At the close of trading, the volume of stocks traded stood at 1.205 billion shares valued at N14.039 billion and exchanged in 12,131 deals. This is in contrast to 998.08 million valued at N15.956 billion which changed hands in 10,580 deals recorded in the previous trading session.
SOURCE: THESUN
