United Capital acquires 5% stake in NGX, boosting confidence in Nigeria's capital market

United Capital Group completed acquisition of a 5% equity stake in the Nigerian Exchange Group (NGX Plc), per a regulatory filing filed on Monday. The deal follows the group's recent recapitalisation of all subsidiaries ahead of regulatory deadlines and the securing of operational licences in Ethiopia and Rwanda.

The stake signals United Capital's confidence in Nigeria's capital market infrastructure and its intent to actively contribute to the Exchange's growth. NGX plays a pivotal role in capital allocation, market efficiency, and economic development. The move also reinforces United Capital's Pan-African footprint across 12 countries and its full-service suite in investment banking, asset management, securities trading, and wealth management.

United Capital plans to leverage the equity stake to support NGX's goals while creating long-term value for shareholders. For investors and market watchers, the transaction highlights growing institutional interest in Nigeria's exchange and may precede further capital-market developments. Will this increased local participation encourage you to explore investment opportunities on NGX, or do you see greater risks despite the vote of confidence?

SOURCE: https://www.premiumtimesng.com/news/top-news/888063-united-capital-acquires-5-stake-in-ngx.html