NGX lists Nigeria’s First Telecom Company, Legend Internet Plc
The Nigerian Exchange Ltd. (NGX) on Thursday listed Legend Internet Plc, a Nigerian telecommunications company. Legend’s N2 billion ordinary shares, with a par value of 50 kobo each, were listed at N5.64 per share.
The Chairman of NGX Group, Dr Umaru Kwairanga, who welcomed Legend’s board and management, commended the company for its successful listing on the Exchange.
He highlighted that listing signifies an elevated commitment to corporate governance and provides opportunities to leverage the Exchange’s diverse asset classes for capital raising.
He stated, “As we celebrate this listing, with many more in the pipeline, I commend the management of Legend Internet Plc for this remarkable milestone.
“This bold step demonstrates confidence in your business model and growth vision. It also marks the formal emergence of a broadband service as a distinct sub-sector on our Exchange.
“Legend has evolved from a focused digital network provider to a diversified technology player, achieving significant advancements in broadband infrastructure development and data services. We anticipate continued growth in the future. “We are still bringing many companies on board the NGX, including Dangote, NNPC and others.
“As Africa’s leading exchange, NGX has consistently championed innovation, transparency and sustainable value creation through our investment in cutting-edge infrastructure and a comprehensive range of product offerings, spanning equities, bonds, ETFs and derivatives.”
Speaking at the Facts Behind the Listing Ceremony, Legend’s Chairman, Dr Ladi Bada, emphasised that the company, as the first indigenous telecommunications company on NGX, has substantial value to offer the market.
Bada encouraged Nigerians to embrace the broadband industry, recognising it as the fastest-growing sector globally. He noted that the company had been instrumental in laying fiber optic cables connecting 250 homes in the Suleja and Abuja environs.He expressed optimism that the Exchange would serve as a catalyst to replicate such commendable projects across other regions of Nigeria.
“We are here to create an enabling digital infrastructure to achieve the projected one-trillion dollar economy. “On this special day, Legend Internet takes a bold step forward, not just for itself, but for the broader ecosystem of technology, infrastructure, and enterprise in Nigeria.
“As we begin this exciting new chapter as a publicly listed company, we do so with humility and boldness. “We remain committed to continuous innovation, expanding our reach, and delivering value to shareholders and society.
“A listing on the Nigerian Exchange is more than a financial event. It is a signal and a declaration that a business is ready to be held to the highest standards of governance, performance, and public trust,” he said.
Providing insights into the company’s development, Ms Aisha Abdulaziz, Chief Executive Officer of Legend Internet Plc, stated that the company had evolved from an internet service provider to a comprehensive digital service provider.
Abdulaziz noted that with broadband penetration in Nigeria being less than one per cent, Legend Internet was strategically positioned to deepen access.
She affirmed the company’s commitment to taking Nigeria’s digital economy to the next level. “When we started Legend, we weren’t just building an internet company; we were building a movement.
“A movement fueled by the belief that every Nigerian deserves access to premium, reliable, and high-speed internet, regardless of their location or occupation.
“From late nights in our first office to laying fiber across Abuja, to launching products that made people’s lives easier and faster, our journey has always been about connections.
“Connecting people to opportunities, connecting homes to entertainment, connecting Nigeria to the digital future it deserves. Our journey has always been about a better way to live.
“This listing is a symbol of our commitment to transparency, sustainable growth, and the kind of excellence that outlives hype. “Legend’s primary focus now is on unlocking digital value at the household level,” she said.
Mr Jude Chiemeka, Chief Executive Officer of NGX, congratulated the company for making the strategic decision to list. Mr Chiemeka noted that Legend’s listing on NGX now brings the total number of listed securities to 322.
Also, Mr Temi Popoola, Chief Executive Officer of the Nigerian Exchange Group, encouraged the investing public to support the newly listed company.#NGX lists Nigeria’s First Telecom Company, Legend Internet Plc#
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