The event, with the theme:Creating an enabling ecosystem for accessing capital from the Nigerian capital markets”, brought together key players in the capital market ecosystem to address and propose solutions to the challenges that issuers face in raising capital in the market.
In his opening remarks, the president of NGX, Mr Abubakar Mahmoudsaid the roundtable was convened with the aim of improving the listing experience of listed companies and providing useful information to potential companies.
Mahmoud said:NGX, as Nigeria’s premier stock exchange, remains strategically positioned to support the aspirations of its stakeholders and the Nigerian economy as a whole.
“We believe the roundtable deliberations will help us improve our operations and offerings in the listing experience, market development, advocacy and investment opportunities.”
Delivering the opening address, Minister of Industry, Trade and Investment, Mr. Adeniyi Adebayosaid the federal government had worked diligently to improve the economy.
Adebayo said this includes diversifying the economy and strengthening institutions and structures.
He said, “As more of our start-ups grow and mature, we need to ensure they have access to a range of financial options to support their expansion plans.”
Also, Mr. Minister of Finance, Budget and National Planning, Dr. Zainab Ahmedin a message of goodwill, said that as a nation facing the burden of economic recovery from the global pandemic, the capital market remains efficient.
Ahmed said it also serves as a reliable solution for businesses to raise capital and for investors to grow their wealth.
Ahmed, who was represented by the Permanent Secretary at the Ministry of Finance, Alhaji Aliyu Ahmedsaid the topic of the roundtable was relevant and would contribute to providing a deep, liquid and integrated capital market.
According to her, this will deepen the alternative sources of financing and increase the confidence of investors to invest for the long term in the capital market.
For his part, the managing director of the Securities and Exchange Commission, Mr Lamido Yugudanoted that the theme of the roundtable resonates with the Securities and Exchange Commission’s mandate to develop and regulate the market while protecting investors.
“The Commission welcomes NGX’s wise moves as it continues to engage with experts for changes that would lead to more desired market expansion,” he added.
Mr Temi PopoolaCEO, NGX, reassured Exchange stakeholders of their commitments to improving the issuer experience by providing a platform that allows companies to raise capital more efficiently while protecting investors.
“As part of efforts to improve the listing experience for current issuers and attract new listings, NGX has intensified its efforts with policymakers to shape reforms and policies that support listings and the capital market in his outfit.
“We are strengthening the value proposition for companies by viewing capital markets as a platform to raise capital and work to ensure that we are competitive with the options that are available to issuers.
“We are therefore actively involved in contributing to policy formulation and advocacy to ensure an enabling environment for listings, including working with multiple stakeholders to ensure that time to market and listing costs are optimized. ”
Speaking on the benefits of listing on the Stock Exchange, the CEO of MTN Nigeria Communications Plc, Mr Karl TORIOLAnoted that MTN had received incredible support from NGX in their registration journey.
Toriola said this has allowed the brand to deepen and diversify its shareholder base.
He mentioned that NGX’s strong corporate governance requirements and guidelines ensure credibility in the capital market and allow access to the general public.
He further explained that the recent public offering of MTN Nigeria launched on the Stock Exchange saw about 78% female subscribers, 80% of whom are under the age of 41, which shows the push for financial inclusion.
Also, CEO, BUA Foods Plc, M Ayodele Abioyesaid listing on the Stock Exchange enables democratization and public participation, which has enhanced the credibility of the BUA brand.
“Listing on NGX presents opportunities for companies to raise capital, fund business growth and implement expansion plans.
“In the first few weeks of our listing, our shares valued at N18 billion on the Exchange rose by 66%.
“While our share price continues to stabilize, our shareholding has increased by approximately 400% since its IPO and we are beginning to see investor confidence in our business,” he added. he added.