NASD Plc announces admission of newly demutualized NGX shares.

NASD Plc has announced the successful admission of the securities of the Nigerian Exchange Group Plc (NGX) for trading on its platform.

This is according to a verified Tweet by NASD Plc, seen by Nairametrics.

The admission is a sequel to the successful demutualization of the defunct Nigerian Stock Exchange (NSE) which gave birth to a new group- The Nigerian Exchange Group Plc (NGX) and three other subsidiaries.

Consequently, NGX shares will be available to be traded by participating institutions or authorized traders registered on the NASD platform from the 13th of April, 2021.

What you should know:

  • Recall that Nairametrics had earlier reported the final completion of the demutualization exercise of NSE after it secured regulatory approvals from SEC and CAC.
  • As part of its transition plan, the creation of a new website, board and other relevant components were ratified and implemented.
  • The newly admitted NGX security is registered on the NASD Plc platform with the ticker SDNGX.

The recent admission is the first recorded cross-listing for securities exchange in Nigeria.