Investment Firm Buys Stake in NGX

A substantial shareholder of the Nigerian Exchange Group, Miri Strategic Emerging Markets Fund LP, has bought over N38m shares of the Group.

This was revealed in a notice on insider trading issued on Tuesday. It said the Fund bought 1,480,000 units of NGX Group shares at N26.09 per share.

In the financial year 2022, the NGX group had recorded a dip in its profit after tax, which went from N2.248bn in 2021 to N698.482m in 2022. No dividend was declared in the last financial year.

Their revenue however increased by 6.8 per cent to N6.17bn in 2022 from N5.777bn recorded the previous year.

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