FPNG Co-Nvest gains substantial shareholder status in NGX Group with 5% stake

FPNG Co-Nvest Limited has emerged as a significant institutional investor in NGX Group.

FPNG Co-Nvest Limited total shareholding in Nigerian Exchange Group Plc (NGX Group) stands at 5 percent of the issued share capital of NGX Group as of February 16, 2026.

FPNG Co-Nvest Limited’s recent move is seen as part of a broader trend of institutional and overseas investors doubling down on Nigerian equities following market rebounds and foreign exchange stabilisation efforts in 2025.

NGX Group shares which since crossed the N100 per share market closed higher at N124 per share on Friday, up by N11.05 or 9.78 percent.

Holding 5 percent of the NGX Group—the parent company of the Nigerian Exchange Limited—positions FPNG Co-Nvest as a significant shareholder, granting it potential influence over corporate decisions and voting power at general meetings.

The NGX Group has shares outstanding of 1,964,115,918 units, cumulatively valued at N243.550 billion.

NGX Group disclosed this in line with the provisions of Rule 17.13 of the Rulebook of Nigerian Exchange Limited (NGX) (Issuers’ Rules).

Why this matters…

The NGX Group is the backbone of the Nigerian capital market (providing trading, clearing, and settlement services).

Holding a 5 percent stake is the legal threshold for substantial interest, means any future moves by FPNG Co-Nvest Limited will be closely watched by market analysts for signals regarding: potential board representation, long-term confidence in the Nigerian financial sector, and future consolidation or further share accumulation.

Company portfolio strategy…

This move by FPNG Co-Nvest Limited follows their 2025 acquisition of a 7.01 percent stake in Thomas Wyatt Nigeria Plc, suggesting FPNG is aggressively building a diversified Nigerian portfolio.

By stacking the Thomas Wyatt deal (7.01 percent) against their recent disclosure of a 5 percent stake in the NGX Group, a clear pattern emerges: FPNG Co-Nvest is positioning itself as a strategic holding entity. They are moving into both market infrastructure (NGX) and industrial production (Thomas Wyatt).

The proposed dividends, bonus shares…

Following its impressive performance in year 2025, the NGX Group proposed a final dividend of N2 per ordinary share of 0.50 kobo each, subject to shareholders’ approval and deduction of appropriate withholding tax.

The dividend will be paid to shareholders whose names appear in the Register of Members as at the close of business on 10 April 10 2026. It also proposed bonus issue of one new ordinary share for every three ordinary shares held at the Qualification Date, subject to shareholders’ approval and regulatory approvals.

In the year ended December 31, 2025, NGX Group recorded: core revenue growth of 36 percent to N22.9 billion (FY 2024: N16.9 billion); operating profit increased by 44.4 percent to N11.8 billion; Profit Before Tax of N15.6 billion, representing an increase from N13.6billion in 2024. Earnings per share of N4.75 was also recorded.