The Nigerian Exchange Group (NGX Group) Plc plans to deepen its markets by creating opportunities for private and venture capital deals, it was learnt yesterday.
The private capital market will complement the existing public primary market and enable private companies to raise funds through the NGX Group.
Speaking at the company’s annual general meeting yesterday in Lagos, Group Chief Executive Officer (GCEO), Nigerian Exchange Group (NGX Group) Plc, Mr. Temi Popoola, said the NGX was repositioning to tap into the growing flow of private capital as a more proactive approach to tackling de-listings from the Nigerian capital market.
He spoke against the background of recent de-listings, which raised concerns among stakeholders.
According to him, the Exchange is shifting its strategy to align with global trends where private equity and venture capital are becoming preferred sources of financing for businesses, especially in the tech sector.
Popoola said: “There is a global increase in the demand for private capital, and Nigeria is not exempted. All our unicorns, about six of them are powered by private capital. These companies are raising significant funds without tapping into the public markets, and that’s the direction the world is going.”
He noted that rather than focusing solely on halting de-listings, the NGX is working to ensure it is not left behind in this shift in preference from public to private capital.
According to him, the Exchange is exploring new ways to capture private capital flows and provide value to companies outside the traditional listing model.
He said: “We might position ourselves to provide private capital access, so that NGX is not just seen as a platform for public equity but as a gateway for all forms of capital. This is how exchanges across the world are adapting, some are seeing de-listings, but they are also landing large listings or tapping into private deals that keep market value intact.”
