Demutualisation: Members Approve Listing of Nigerian Stock Exchange’s Shares
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The members of the Nigerian Stock Exchange (NSE) voted overwhelmingly yesterday at its 59th Annual General Meeting ( AGM), a meeting which is expected to be its last as a mutual entity, to support the listing of the Nigerian Exchange Group Plc (NGXG) on the Nigerian Exchange Limited (NGX) once the demutualization of the NSE is completed. Under the resolution passed by the AGM, subject to the receipt of requisite approvals of relevant regulatory authorities, following the conversion and re-registration of NGXG, the Group is authorized to undertake a listing by introduction of its shares on NGX. Consequently, the NSE will no longer be wholly owned by its dealing and non-dealing members .