Another Nigerian Company Set to List Shares on Nigerian Stock Market

• The number of companies on the Nigerian Exchange is set to increase with the listing of Legend Internet Plc
• The listing will now allow the shares of Legend Internet Plc to be traded on the Nigerian Exchange (NGX)
• Legend Internet is a leading provider of fibre-to-the-home (FTTH) services, offering high-speed internet

Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends

Nigerian fibre broadband company Legend Internet Plc has announced plans to list 2 billion shares by introduction on the Main Board of the Nigerian Exchange (NGX) on April 24, 2024.

The move signals the continued rise of the country’s digital economy.

The listing, which will be conducted by way of introduction, allows the company's shares to be traded on the open market without a public offering, having met all regulatory and corporate governance requirements set by the NGX.

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The company said that the NGX listing will culminate with a ceremonial bell-ringing event, marking a new phase in its journey to deepen digital inclusion across Nigeria.

Shakirah Alaga, Chief Marketing Officer, Legend Internet, in a statement, said the forthcoming listing and Bell-Ringing Ceremony mark a significant milestone in Legend’s mission to drive digital inclusion and redefine home connectivity across the country, BusinessDay reports.

Also, Aisha Abdulaziz, Chief Executive Officer, Legend Internet said:

"Legend’s listing on the NGX is more than a corporate milestone it’s a national moment, We are building Africa’s most customer-focused internet company, powered by world-class infrastructure and made-in-Nigeria innovation.

" Going public allows more people to be part of this story and share in the value we are creating."

What to know about Legend Internet

Legend Internet, widely known for its fiber-to-the-home (FTTH) infrastructure, has gained prominence in Nigeria’s broadband market by delivering high-speed internet, cable TV, and smart home solutions directly to homes and businesses. The company’s portfolio includes on-demand streaming, crystal-clear voice calls, automated home surveillance, energy monitoring, and smart lighting services.

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Founded with a mission to connect underserved areas and urban centres alike, Legend Internet has invested heavily in last-mile fiber infrastructure, allowing it to serve markets where broadband access has been historically limited or unreliable.

Leadership reports that the company’s customer-first model and localised offerings have enabled it to become a standout player in Nigeria’s growing tech sector.

With Nigeria’s increasing reliance on digital services in education, healthcare, finance, and entertainment, demand for fast, reliable internet is projected to climb.

Legend, with its expanding infrastructure, loyal customer base, and agile leadership, is positioning itself to capitalise on this trend.

The listing also places Legend Internet among the ranks of tech and telecom giants like MTN Nigeria and Airtel Africa on the NGX, offering investors a fresh opportunity to tap into the country’s broadband-driven digital transformation.

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Source: Legit.ng