Legend Internet Plc has listed two billion ordinary shares by introduction on the main board of the Nigerian Exchange Limited (NGX).
NGX announced the listing during the bell-ringing ceremony on Thursday.
Listing by introduction means the company has met all requirements but is not raising new capital immediately through a public offering.
The technology firm was admitted to the daily official list of the stock market, and its shares traded at an admission price of N5.64 per ordinary share.
Advertisement
Speaking at the listing event, Umaru Kwairanga, chairman of NGX, said the exchange is excited to welcome Legend Internet to the main board with a market cap of N11.28 billion.
“The listing of Legend today is something that we are proud of,” Kwairanga said.
“This is going to be the first for this year, but assure you have a lot in the pipeline. I’ve always said it here, and I’ll continue to say it, the $1 trillion economy of the federal government is achievable, and we have the platform, we have the resources, we have the capacity that we can be able to partner, support, work with the federal government to make sure that we are being supports that target.
Advertisement
“Legend went through a very rigorous due diligence process, and we really put them to the test, and they’ve passed it with flying colours.
“So, I really want to congratulate them. I also want to assure them that our style of regulation here is one of substantive and engagement, where we would not just set traps.
“We will continue to engage them, collaborate with them.”
On her part, Aisha Abdulaziz, chief executive officer (CEO) of Legend Internet, said that with the support of the exchange, the company will be able to take the Nigerian economy to the next level.
Advertisement
Abdulaziz said the company will “not just want to work with the exchange and be able to proudly see the exchange, this very exchange here, this foremost African exchange, took us to the next level”.
