Yemisi Izuora
The Nigerian Stock Exchange (NSE) has been awarded the 2015 Financial Institution Award from The Oil & Gas Year (TOGY) Nigeria.
The NSE in a statement said the award was presented to The Exchange at The Oil & Gas Year Nigeria Award ceremony, an annual event to celebrate individuals and institutions who have distinguished themselves in their areas of specialization.
According to the organisers of the event, the award was conferred on the NSE in recognition of its first-ever dual listing with the London Stock Exchange through the $500 million Initial Public Offering (IPO) of Nigerian independent hydrocarbons company Seplat Petroleum Plc.
The listing was the largest European IPO of an exploration and production company since the 2008 financial crisis.
With almost 50 per cent of locally sourced capital and more than 65 percent of trading volumes done on the Exchange, the role of capital markets in advancing local oil and gas firms is clear.
“We at The Oil & Gas Year Nigeria 2015 (TOGY), recognize your relentless efforts to support Nigeria’s indigenous companies and your involvement in some of the most prominent deals, it is an honour to give you the Financial Institution of the Year award”, the organisers added.
Commenting on the award, the Chief Executive Officer, NSE, Mr. Oscar N. Onyema, OON said, “We are delighted and humbled to receive this important recognition for the ground-breaking transaction. This award affirms that Lagos and London capital markets are truly in partnership to facilitate more dual listing in both markets. I am confident that this award will encourage more listed companies to leverage our partnership to access capital. The award is a tribute to the effort and passion of the great teams at Seplat, The Nigerian Stock Exchange and London Stock Exchange who collaborated to make the transaction a reality”.
In November 18, 2014, The Nigerian Stock Exchange (NSE) signed a capital market agreement with the London Stock Exchange Group (LSEG) to jointly promote the development of the Lagos and London capital markets. The agreement supports African companies seeking dual listings in both markets and follows the implementation of a new settlement process between the United Kingdom and Nigeria.
Subsequently, the two exchanges co-hosted a one day capital market dialogue themed Lagos: Capital Markets in Partnership, on June 22, 2015 at the London Stock Exchange. The NSE led a strong team of corporate finance experts, lawyers, capital market operators, regulators and companies keen to explore a London/Lagos dual listing, to the event.