Members of the Association of Securities Dealing Houses of Nigeria (ASHON) have okayed the Nigerian Exchange Group Plc and its structure as it plan its maiden annual general meeting (AGM) after demutualisation.
Besides, ASHON, whose members were the original owners of NGX have endorsed the company’s plan to hold the post-demutualisation and 60th AGM on September 9, 2021 in Abuja, as a symbol of current diversified ownership and sustained national outlook.
The NGX Group completed its demutualization in late March this year to improve the market in the areas like technology, human capital, and processes with enhanced income generation. It is also expected to make the exchange focus on its core mandate,
A statement by ASHON chairman, chief Onyewenchukwu Ezeagu explained that its members had always partnered with the Exchange, noting that dealing member houses played pivotal roles during all the stages of demutualisation and shall continue to support the market in all areas of development.
It added that the meeting will attract numerous institutional and retail investors as the demutualisation has paved the way for everyone to become a shareholder in the new entity.
The demutalisation of NGX Group led to establishment of three subsidiaries: the Nigerian Exchange Limited (NGX), NGX Regulation Limited (NGX REGCO), and NGX Real Estate Limited (RELCO.