The Chairman of the Nigerian Exchange Group Plc, Alhaji (Dr) Umaru Kwairanga, has officially welcomed Legend Internet Plc to the Main Board of the Nigerian Exchange, urging the company to embrace the obligations that come with public listing while assuring it of the market’s capital-raising potential.
Speaking during the listing-by-introduction ceremony held on Thursday, 24th April 2025, at the NGX Event Centre, Kwairanga commended the company’s bold step of listing two billion ordinary shares at ₦5.64 each, describing the move as a gateway to enhanced visibility and investment opportunities.
He reiterated that, “With this step that you have taken, you have increased the visibility of your company and brand, not just in Nigeria but globally,”
Kwairanga stated, “You can also more easily access deep pools of capital that are available to public companies.”
Citing recent capital market milestones, he noted that “in 2024, Nigerian quoted banks were able to raise over ₦2 trillion towards their recapitalisation from over ₦8 trillion raised in our market.”
He added confidently, “I have no doubt that if you need funds to expand your fibre optic and other businesses, you will be able to do that more easily from the public markets.”
However, Kwairanga was quick to highlight the responsibilities of public companies, adding that, “Let me, however, warn you that going public, as you are doing today, comes with certain obligations.”
He said, “You must be ready for greater transparency and more disclosures… you must ensure fair treatment of all your shareholders, whether major or minor.”
The NGX Chairman praised the leadership of Legend Internet Plc, describing them as “focused, determined and ambitious, and expressed optimism about their future performance. They did not take the decision to transform into a public quoted company lightly.”
He observed, “I am confident that you will do well in our market and do well for your shareholders and other stakeholders.”
The listing marks a significant milestone for Legend Internet Plc and reaffirms NGX’s role as a hub for corporate growth, innovation, and investor confidence across Africa.
