Legend Internet To List 2bn Shares On NGX April 24

Legend Internet Plc, Nigeria’s fastest-growing last-mile broadband provider, is set to debut on the Main Board of Nigerian Exchange Limited (NGX) on Thursday, April 24, 2025.

The listing, which will be conducted by way of introduction, marks the company’s official transition into the public market with 2 billion ordinary shares, reflecting its ambition to scale broadband penetration and expand its digital ecosystem across the country.

Strategic Insights and Financial Implications:
The approval to list highlights Legend Internet’s compliance with NGX’s rigorous listing standards, positioning the company as a credible player in Nigeria’s capital market. While no offer price or valuation metrics have been disclosed at this stage, the move signals a major push to attract long-term capital for growth, improve transparency, and broaden investor participation in Nigeria’s digital infrastructure sector.

The listing is more than a financial event—it aligns with Legend’s broader strategy to leverage public investment for nationwide fiber expansion, deepen enterprise service capabilities, and grow its suite of integrated tech solutions. By combining core broadband infrastructure with value-added services like LegendMail, MailPay, and Legend Pay, the company is creating an all-in-one digital experience designed for Nigeria’s increasingly connected population.

Positioning and Market Differentiation:
Legend Internet’s business model sets it apart in a competitive broadband market through three key differentiators: a hyperlocal innovation strategy, vertically integrated service delivery, and a product ecosystem that bundles communication, payments, and cloud-based storage. This integrated approach has helped Legend carve out a dominant position in fiber-to-the-home (FTTH) services—a segment still underpenetrated in many parts of Nigeria.

Through tools such as the MyLegend App for customer service, and LegendMail, which fuses email with payments and cloud storage, the company is pushing beyond connectivity into a broader digital lifestyle platform. These offerings also give Legend a long-term revenue model beyond data subscriptions, creating multiple monetisation channels that could appeal to institutional and retail investors alike.

According to Shakirah Alaga, Chief Marketing Officer, the listing is “a significant milestone in Legend’s mission to redefine home connectivity.”

Mrs. Aisha Abdulaziz, Chief Executive Officer of Legend Internet, echoed this sentiment, saying, “Going public allows more people to be part of this story and share in the value we are creating.”

She further stated: “We have proven that innovation can be born here, scaled here, and listed here. As we go public, we are unlocking new growth opportunities—not just for Legend, but for Nigeria’s digital economy at large.”

The listing also aligns with the federal government’s renewed focus on broadband penetration and digital transformation as catalysts for economic growth, especially across underserved regions.

Legend’s NGX debut provides investors with early exposure to a company that is not only deploying hard infrastructure but also embedding financial and digital services within that pipeline. As demand for reliable home broadband, e-payments, and cloud-based tools continues to rise, Legend Internet is uniquely positioned to capture value at the intersection of connectivity, convenience, and innovation.

The Bell-ringing Ceremony on April 24 is expected to draw high-level participation from government, tech, and capital market stakeholders, highlighting Legend’s evolution from a startup challenger to a publicly listed enabler of Nigeria’s digital future.