Five percent of the Nigerian Exchange Group now belongs to United Capital Group, following the completion of a fresh equity acquisition in NGX Plc.
The deal marks a notable move by United Capital Group into one of Africa's most prominent capital market institutions. The Nigerian Exchange Group sits at the heart of Nigeria's financial ecosystem, and a stake of this size signals real confidence in the exchange's trajectory.
Details on the transaction value have not been disclosed, but the completion of the deal confirms that United Capital Group is deepening its footprint in the Nigerian financial market. Watch this space as the implications for both institutions begin to unfold.
Originally published by BusinessDay.