NGX Invest Facilitates Over N1.26tr For Banks’ Recapitalisation

NGX Invest, the digital offering platform of the Nigerian Exchange (NGX), has raised over N1.26 trillion for banks through various rights issues and public offerings.

This significant achievement highlights the growing role of the platform in capital-raising efforts across the financial sector.

FBN Holdings, which recently launched its N150 billion rights issue, becomes the latest major bank to leverage NGX Invest for its fundraising. It joins six other Nigerian banks that have successfully used the platform for their capital-raising initiatives, highlighting the platform’s importance in modern banking operations.

Mr. Temi Popoola, Group Chief Executive Officer of NGX Group, lauded NGX Invest’s secure, well-regulated infrastructure, which has positioned it as the go-to choice for issuers distributing digital offerings.

“NGX Invest’s secure, well-regulated infrastructure has become the go-to choice for issuers distributing offerings digitally. We are proud to support financial institutions and other issuers in capital-raising efforts, helping them reach broader investor bases and drive economic growth,” Mr. Popoola said.

The platform’s efficiency and ability to reach a broad investor base has been recognised by key stakeholders in the capital markets. Dr. Emomotimi Agama, Director-General of the Securities and Exchange Commission (SEC), noted that banks using NGX Invest consistently achieve full subscriptions, often surpassing them with oversubscriptions.

Mr. Ladi Balogun, Group Chief Executive Officer of FCMB Group Plc, also commended the platform for enabling over 40,000 investors to easily participate in FCMB’s recent public offering. The seamless access offered by NGX Invest has proved to be a valuable tool for issuers and investors alike.

The ongoing N150 billion rights issue by FBN Holdings is offered on a one-for-six basis to existing shareholders. The digital platform is providing eligible investors with convenient access to the offering, making it easier for them to participate.

At the ‘Facts Behind the Rights Issue’ event hosted recently by NGX, FBN Holdings Group Managing Director, Mr. Nnamdi Okonkwo, emphasised the strategic importance of the offering. “We will leverage our diversified portfolio to ‘do more with less’ by optimising costs, boosting efficiency, and enhancing revenue,” Mr. Okonkwo explained. He also highlighted NGX Invest’s role in expanding their reach to a wider investor base, stating that the platform has made capital-raising more accessible and efficient.

With its track record in facilitating successful capital raises, NGX Invest continues to play a vital role in supporting financial institutions and driving the growth of Nigeria’s capital markets.