Nigerian Exchange Limited (NGX), made history on Thursday with the listing of Legend Internet Service PLC as the first company in its Telecoms sector and the first company to be listed this year.
Legend’s 2,000,000 billion Ordinary Shares of 50 kobo each were listed at N5.64 per share and the stock appreciated by a daily maximum gain to close at N6.20 per share thus shooting up NGX market capitalisation by N12. 4 billion.
Speaking at the Facts Behind the Listing Ceremony, Legend’s Chairman, Dr Ladi Bada who noted that Legend says: “A listing on the Nigerian Exchange Limited (NGX), is more than a financial event. It is a signal-a declaration- that a business is ready to be held to the highest standards, performance, and public trust. And i’m proud to say that Legend Internet has met that moment with the same energy, integrity and purpose that has guided it from the beginning. This is not just a win for our company. It is a win for Nigeria’s digital economy.”
Corroborating him, Legend’s Chief Executive Officer, Aisha Abdulaziz explained that when the company started, it was not just an internet company but a movement in the digital service.
“Every Nigerian deserves premium digital services. Our journey has always been connecting. Our business has always been a trust. Listing on NGX is a commitment to transparency . We are scaling. We expanding in new technologies, deepening our infrastructure and reaching more underserved communities,” said Abdulaziz.
The Group Chairman, NGX PLC, Dr Umaru Kwairanga, who welcomed Legend’s Board and Management, commended the company for the bold initiative of listing on the Exchange.
He noted that listing was an enhanced status of adherence to corporate governance and opportunities to take advantage of an array of the Exchange’s different asset classes to raise capital.
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