The Nigerian Exchange Limited on Thursday listed Legend Internet Service PLC, marking the company as the first telecoms firm to be listed this year.

The company listed a total of 2,000,000,000 ordinary shares at 50 kobo each, priced at N5.64 per share. Following the listing, the stock saw a daily maximum gain, closing at N6.20 per share. This led to a rise in NGX’s market capitalisation by N12.4bn.

At the Facts Behind the Listing ceremony, the Chairman of Legend Internet Service, Ladi Bada noted that the listing on NGX was not just a financial event but a symbolic declaration that the company had met the highest standards of performance, governance, and public trust.

“A listing on the Nigerian Exchange Limited is more than a financial event. It is a signal, a declaration, that a business is ready to be held to the highest standards, performance, and public trust,” Bada stated.

Echoing these sentiments, the Chief Executive Officer of Legend Internet Service, Aisha Abdulaziz, highlighted that Legend Internet was not just an internet service provider but a movement within Nigeria’s digital service sector.

Abdulaziz pointed out that the company’s mission had always been to ensure that every Nigerian has access to premium digital services, and the listing on NGX marks a further commitment to transparency and growth.

She explained, “Every Nigerian deserves premium digital services. Our journey has always been connecting. Our business has always been a trust. Listing on NGX is a commitment to transparency. We are scaling. We are expanding in new technologies, deepening our infrastructure, and reaching more underserved communities.”

The Chairman of NGX Group, Umaru Kwairanga, extended his warm congratulations to the Legend Internet team for their successful listing, noting that the listing was a clear indication of Legend’s adherence to corporate governance standards and its readiness to take advantage of NGX’s various capital-raising options.