The three freshly listed equities on the NGX have contributed approximately N179 billion to the exchange’s market capitalization in 2023.
Mecure Industries Plc, VFD Group Plc, and Chapel Hill Denham’s Nigerian Infrastructure Debt Fund are the stocks that will be listed on the NGX in 2023.
NGX has returned over 41% so far this year, which is the exchange’s greatest result since 2020. The NGX has reached new heights in 2023 with an all-share index above 72,000 and a market capitalization of over N39 trillion.
The July delisting of Ardova Petroleum was the only delisting recorded by the NGX in 2023, with three new listings having been added. However, as GSK Consumer Nigeria Plc and PZ Cussons Nigeria are nearing the end of their delisting from the NGX, more companies are anticipated to delist in the early months of 2024.
With a market capitalization of N92.54 billion, Chapel Hill Denham debuted its N200 billion Nigeria Infrastructure Debt Fund on October 5, 2023. The value had dropped to N92.46 billion as of December 14.
On October 6, the next day, VFD Group Plc was listed on the NGX, with a market value of N51.17 billion. Since then, though, its value has decreased to N38.56 billion.
Mercure Industries Plc listed on the NGX on November 7 with a market capitalization of N11.84 billion; it has subsequently grown to N48 billion.
The CEO of the NGX, Temi Popoola, stated during the MTN Capital Markets Day in November 2023 that up to 10% of the market capitalization of the NGX had come from fresh listings during the previous two years.
According to data supplied by the Exchange, “Nigerian Exchange Limited experienced a remarkable surge in market capitalization, with new listings contributing over 10% in the past two years,” he said.
BUA Foods Plc, Geregu Power Plc, VFD Group Plc, Mecure Industries Plc, and NIDF have all listed on the NGX in the last 24 months. In the same period, however, Ardova Petroleum, Studio Press Petroleum, and Union Diagnostic & Clinical Services were delisted.
