Legend Internet to List Two Billion Shares on NGX, Marking Major Milestone for Nigerian Tech Sector

Legend Internet Plc is set to list two billion shares on the Main Board of the Nigerian Exchange Limited (NGX) on April 24, 2024, following a statement from the company. The listing, which is by introduction, signifies the company’s transition into a publicly traded entity. Unlike traditional IPOs, this process does not involve raising new capital but demonstrates that the company has met all regulatory requirements set by the NGX.

The Chief Marketing Officer of Legend Internet, Shakirah Alaga, emphasized that the upcoming listing represents a significant step in the company’s mission to enhance digital inclusion and improve home connectivity across Nigeria. This public listing will give Legend Internet an opportunity to expand its reach and bring more Nigerians into its story.

Aisha Abdulaziz, the CEO of Legend Internet, described the listing as a “national moment,” noting that the company’s success in Nigeria reflects the potential for homegrown innovation to thrive and scale. She highlighted that going public allows more individuals to participate in the company’s growth, offering them a chance to benefit from the value being created.

The listing is expected to attract various stakeholders from the government, business, technology, and investment sectors, further solidifying Legend’s position in Nigeria’s growing digital economy. The company is poised to use this new chapter to invest in local talent and boost its technological infrastructure, paving the way for future growth.

Source: Punch