Both indices, in which only fully paid-up common shares are admitted, are weighted by adjusted market capitalization-the number of a company’s listed shares, multiplied by the closing price, and multiplied by a capping factor. Additional indices are the NGX30 and NGX50 which respectively track the top 30 and 50 companies in terms of market capitalization and liquidity. The ASI tracks the general market movement of all listed equities on the Exchange, including those listed on the Growth Board, regardless of capitalization. NGX publishes the benchmark, value-weighted All-Share Index (ASI), formulated in January 1984 with a base value of 100. In March 2021, the erstwhile Nigerian Stock Exchange was demutualized from a member-owned not-for-profit entity into a shareholder-owned, profit making entity Nigerian Exchange Group Plc. Likewise, NGX provides its pool of domestic, regional, and international investors with an array of regulated securities to achieve their investment objectives. The Exchange provides capital access to companies seeking to take advantage of the financial markets to fund their business expansion. The Nigerian Stock Exchange ( NGX, officially Nigerian Exchange Group) is a leading integrated market infrastructure in Africa servicing the continent’s largest economy.
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