Kemi Adeosun, Finance Minister of Nigeria opens London & Lagos Capital Markets conference

  • The Rt Hon. Greg Hands MP, Minister of State for International Trade opens London trading
  • Event brings together senior UK and Nigerian government officials, business leaders and global investors
  • Focus on building London-Lagos dual listing model and developing Nigerian capital markets
  • Amina J. Mohammed, Minister of Environment, Federal Republic of Nigeria gives keynote address

London Stock Exchange plc today welcomes Kemi Adeosun, Minister of Finance, Federal Republic of Nigeria to open trading alongside the Rt Hon. Greg Hands MP, Minister of State for International Trade, celebrating the 3rd ‘London & Lagos Capital Markets in Partnership’ Conference. She was joined at the event by Amina J. Mohammed, Minister of Environment, Federal Republic of Nigeria, who gave a keynote address discussing the Nigerian Government’s green agenda.

The event, hosted in collaboration with The Nigerian Stock Exchange brings senior Nigerian policymakers including Chinelo Anohu-Amazu, Director General, Nigerian Pension Commission; Nigerian business leaders such as Oscar N. Onyema, CEO, The Nigerian Stock Exchange (NSE) and Roger Brown, CFO, Seplat Petroleum together with global investors and advisors.

Rt Hon. Greg Hands MP, Minister of State for International Trade said:
"I know from my own time in Nigeria that the UK and Nigeria have long enjoyed a close and prosperous business relationship. The UK is one of Nigeria's largest investors and the Government is committed to boosting trade between our two countries. We are actively helping British companies export to Nigeria and Nigerian businesses to locate and expand in the UK. I welcome this initiative as a further step to deepen the commercial links between our nations."

Nikhil Rathi, CEO, London Stock Exchange plc & Director of International Development, London Stock Exchange Group:
“Today’s event is a reflection of the global investment community’s strong desire to be a part of the Nigeria story. As the world’s most international exchange, we are ideally positioned to build on the success of existing dual listings in Nigeria and London, boosting global investor awareness of the country’s exciting growth trajectory. Our strong partnership with the NSE allows us a unique opportunity to showcase the rapid developments in Nigerian capital markets and the Nigerian economy.”

Oscar N. Onyema, OON, CEO of The Nigerian Stock Exchange said: 
“Our collaboration with London Stock Exchange is deliberate and strategic. It is geared at encouraging seamless cross-border access between our capital markets to ultimately drive deeper capital markets that enable capital formation for businesses and Governments; create larger liquidity pools and greater competitiveness for our investors; and enhance capacity and promote diversity of investment products to meet the needs of a wide range of investors and issuers.”

In November 2014, London Stock Exchange Group and NSE signed a capital markets agreement aimed at supporting African companies seeking dual listings in London and Lagos. The agreement followed the implementation earlier that year of a new settlement process between the UK and Nigeria. This made significantly more efficient the listing and trading of ordinary shares of Nigerian companies listed in London, as well as those of UK companies on the Nigerian market. Seplat, the oil and gas business, raised $500m in an IPO via this new mechanism in 2014, and was the first company to simultaneously dual list shares in London and Nigeria.

Nigeria and Africa as a whole represent one of LSEG’s most exciting areas of potential international growth:

  • More African companies, 112, are listed in London than any other international exchange.
  • The companies have a combined market capitalisation in excess of $200 billion; the largest concentration of African quoted companies outside of Johannesburg.
  • A total of $26.1 billion has been raised for African companies in the last 10 years in London with AngloGold Ashanti Ltd, Aviva plc and Tullow Oil plc each raising over $1.5 billion.
  • In addition, more than $5 billion has been raised via corporate and sovereign fixed income issuances in London.
  • There are 8 companies listed on LSEG markets (including GDRs) with their primary area of business in Nigeria with a total market cap of $6.5 billion. 5 of these are dual-listed.

 

- Ends -

For further information:

 

Media

 

Tom Gilbert

 

+44 (0)20 7797 1222

newsroom@lseg.com

 

Notes to editors:

About London Stock Exchange Group:

London Stock Exchange Group (LSE.L) is an international markets infrastructure business. Its diversified global business focuses on capital formation, intellectual property and risk and balance sheet management. LSEG operates an open access model, offering choice and partnership to customers across all of its businesses. The Group can trace its history back to 1698.

The Group operates a broad range of international equity, ETF, bond and derivatives markets, including London Stock Exchange; Borsa Italiana; MTS (Europe's leading fixed income market); and Turquoise (a pan-European equities MTF). Through its platforms, LSEG offers market participants, including retail investors, institutions and SMEs unrivalled access to Europe’s capital markets. The Group also plays a vital economic and social role, enabling companies to access funds for growth and development.

Through FTSE Russell, the Group is a global leader in financial indexing, benchmarking and analytic services with approximately $10 trillion benchmarked to its indexes. The Group also provides customers with an extensive range of real time and reference data products, including SEDOL, UnaVista, XTF and RNS.

Post trade and risk management services are a significant part of the Group’s business operations. In addition to majority ownership of LCH, a multi-asset global CCP operator, LSEG owns CC&G, the Italian clearing house; Monte Titoli, a leading European custody and settlement business; and globeSettle, the Group’s CSD based in Luxembourg.

LSEG is a leading developer and operator of high performance technology solutions, including trading, market surveillance and post trade systems for over 40 organisations and exchanges, including the Group’s own markets. Additional services include network connectivity, hosting and quality assurance testing. MillenniumIT, GATElab and Exactpro are among the Group’s technology companies.

Headquartered in the United Kingdom, with significant operations in North America, Italy, France and Sri Lanka, the Group employs approximately 3,500 people.

Further information on London Stock Exchange Group can be found at www.lseg.com

-      

The Rt Hon. Greg Hands MP, Minister of State for International Trade opens London trading

-      

Event brings together senior UK and Nigerian government officials, business leaders and global investors

-      

Focus on building London-Lagos dual listing model and developing Nigerian capital markets

-      

Amina J. Mohammed, Minister of Environment, Federal Republic of Nigeria gives keynote address

London Stock Exchange plc today welcomes Kemi Adeosun, Minister of Finance, Federal Republic of Nigeria to open trading alongside the Rt Hon. Greg Hands MP, Minister of State for International Trade, celebrating the 3rd ‘London & Lagos Capital Markets in Partnership’ Conference. She was joined at the event by Amina J. Mohammed, Minister of Environment, Federal Republic of Nigeria, who gave a keynote address discussing the Nigerian Government’s green agenda.

 

The event, hosted in collaboration with The Nigerian Stock Exchange brings senior Nigerian policymakers including Chinelo Anohu-Amazu, Director General, Nigerian Pension Commission; Nigerian business leaders such as Oscar N. Onyema, CEO, The Nigerian Stock Exchange (NSE) and Roger Brown, CFO, Seplat Petroleum together with global investors and advisors.

 

Rt Hon. Greg Hands MP, Minister of State for International Trade said:
"I know from my own time in Nigeria that the UK and Nigeria have long enjoyed a close and prosperous business relationship. The UK is one of Nigeria's largest investors and the Government is committed to boosting trade between our two countries. We are actively helping British companies export to Nigeria and Nigerian businesses to locate and expand in the UK. I welcome this initiative as a further step to deepen the commercial links between our nations."

 

 

Nikhil Rathi, CEO, London Stock Exchange plc & Director of International Development, London Stock Exchange Group:

“Today’s event is a reflection of the global investment community’s strong desire to be a part of the Nigeria story. As the world’s most international exchange, we are ideally positioned to build on the success of existing dual listings in Nigeria and London, boosting global investor awareness of the country’s exciting growth trajectory. Our strong partnership with the NSE allows us a unique opportunity to showcase the rapid developments in Nigerian capital markets and the Nigerian economy.”

 

Oscar N. Onyema, OON, CEO of The Nigerian Stock Exchange said:
“Our collaboration with London Stock Exchange is deliberate and strategic. It is geared at encouraging seamless cross-border access between our capital markets to ultimately drive deeper capital markets that enable capital formation for businesses and Governments; create larger liquidity pools and greater competitiveness for our investors; and enhance capacity and promote diversity of investment products to meet the needs of a wide range of investors and issuers.”

In November 2014, London Stock Exchange Group and NSE signed a capital markets agreement aimed at supporting African companies seeking dual listings in London and Lagos. The agreement followed the implementation earlier that year of a new settlement process between the UK and Nigeria. This made significantly more efficient the listing and trading of ordinary shares of Nigerian companies listed in London, as well as those of UK companies on the Nigerian market. Seplat, the oil and gas business, raised $500m in an IPO via this new mechanism in 2014, and was the first company to simultaneously dual list shares in London and Nigeria.

 

Nigeria and Africa as a whole represent one of LSEG’s most exciting areas of potential international growth:

·        

More African companies, 112, are listed in London than any other international exchange.

·        

The companies have a combined market capitalisation in excess of $200 billion; the largest concentration of African quoted companies outside of Johannesburg.

·        

A total of $26.1 billion has been raised for African companies in the last 10 years in London with AngloGold Ashanti Ltd, Aviva plc and Tullow Oil plc each raising over $1.5 billion.

·        

In addition, more than $5 billion has been raised via corporate and sovereign fixed income issuances in London.

·        

There are 8 companies listed on LSEG markets (including GDRs) with their primary area of business in Nigeria with a total market cap of $6.5 billion. 5 of these are dual-listed.

 

 

 

 

 

- Ends -

 

 

 

For further information:

 

Media

 

Tom Gilbert

 

+44 (0)20 7797 1222

newsroom@lseg.com

 

 

Notes to editors:


About London Stock Exchange Group:


London Stock Exchange Group (LSE.L) is an international markets infrastructure business. Its diversified global business focuses on capital formation, intellectual property and risk and balance sheet management. LSEG operates an open access model, offering choice and partnership to customers across all of its businesses. The Group can trace its history back to 1698.

 

The Group operates a broad range of international equity, ETF, bond and derivatives markets, including London Stock Exchange; Borsa Italiana; MTS (Europe's leading fixed income market); and Turquoise (a pan-European equities MTF). Through its platforms, LSEG offers market participants, including retail investors, institutions and SMEs unrivalled access to Europe’s capital markets. The Group also plays a vital economic and social role, enabling companies to access funds for growth and development.

 

Through FTSE Russell, the Group is a global leader in financial indexing, benchmarking and analytic services with approximately $10 trillion benchmarked to its indexes. The Group also provides customers with an extensive range of real time and reference data products, including SEDOL, UnaVista, XTF and RNS.

 

Post trade and risk management services are a significant part of the Group’s business operations. In addition to majority ownership of LCH, a multi-asset global CCP operator, LSEG owns CC&G, the Italian clearing house; Monte Titoli, a leading European custody and settlement business; and globeSettle, the Group’s CSD based in Luxembourg.

 

LSEG is a leading developer and operator of high performance technology solutions, including trading, market surveillance and post trade systems for over 40 organisations and exchanges, including the Group’s own markets. Additional services include network connectivity, hosting and quality assurance testing. MillenniumIT, GATElab and Exactpro are among the Group’s technology companies.

 

Headquartered in the United Kingdom, with significant operations in North America, Italy, France and Sri Lanka, the Group employs approximately 3,500 people.

 

Further information on London Stock Exchange Group can be found at www.lseg.com