#Demutualization policy: The Nigerian Stock Exchange unveils a new website

Nigerian Stock Exchange

The Nigerian Stock Exchange (also known as The Exchange), has unveiled a new website for its operational activities, sequel to the completion of its demutualization exercise.

This is according to findings by naijabusiness.com.ng.  Recall that The Exchange had announced the successful completion of its demutualization policy, after obtaining regulatory approvals from Corporate Affairs Commission (CAC) and The Securities and Exchange Commission (SEC).

The regulatory approvals had empowered the NSE to activate its ‘Transition Plan’ to a new operational structure and holding company. The goal of the plan was to enable a seamless transition of the Group and market participants without a disruption in service.

As part of the Transition Plan, the creation of a new website, inauguration of a new board and a host of other essential nuggets were proposed and ratified. In light of this, the new website has been created.

READ: Court Orders CBN to Freeze Another 194 Accounts of Firms, BDCs

To cap it all, naijabusiness.com.ng observed that the old NSE website (http://www.nse.com.ng/) had been inactive since morning, while the new website (https://ngxgroup.com/exchange/) has been functional.

It is pertinent to note that the NSE is yet to release an official press statement as regards the recent development; however we anticipate a formal communication on the aforementioned issue soon.

What you should know:

  • The Demutualization policy enabled the transition of The Exchange from a company limited by guarantee to a public company limited by shares, leading to an emergence of the Nigerian Exchange Group (NGX Group) Plc and three subsidiaries.
  • There is a noticeable change in the layout of the new website and the addition of a separate column for the new subsidiaries.