NGX Group Launches Digital Web Application (NGX Invest) for Public Offers and Rights Issues
Nigerian Exchange Group Plc (NGX) announced the launch of NGX Invest, a cutting-edge web application designed to transform the primary market equity capital-raising process, specifically public offers and rights issues. This innovative platform aims to enhance efficiency and ensure regulatory compliance for all stakeholders in the capital market.
NGX Invest represents a significant leap forward in digitalising equity capital raising. By minimising paperwork and offering a streamlined digital experience, the web app is poised to revolutionise interactions among issuers, brokers, institutional investors, and retail investors within the primary market. Stakeholders will benefit from enhanced efficiency, streamlined due diligence capabilities, ease of use and accessibility, faster information dissemination, and seamless compliance with regulatory requirements, among other features provided by the platform.
Temi Popoola, the Group Managing Director/Chief Executive Officer of NGX Group, emphasised the importance of the launch of NGX Invest. This platform is a significant milestone in developing the Nigerian capital market as it enhances efficiency, reduces paperwork, and introduces unparalleled accuracy and speed to the capital-raising process. Additionally, by incorporating robust Know Your Customer (KYC) and Anti-Money Laundering measures, NGX Invest ensures a secure and compliant investment environment, building trust and confidence among all market participants. It is expected that NGX Invest will drive market development, strengthen the technological capabilities of the operating exchange, Nigerian Exchange Limited, and notably increase retail participation, ultimately contributing to the overall growth and liquidity of the market.
In line with its commitment to market development, NGX Group introduces NGX Invest to the capital market following the approval of the Securities and Exchange Commission (SEC). A long-awaited development, the platform aims to boost retail participation in the capital market, promote financial inclusion, and further deepen the pool of available capital by enhancing its capabilities to fulfil the needs of Issuers and other market stakeholders
