MIRI Strategic Emerging Markets Fund Invests N261.406 Million NGX Group

MIRI Strategic Emerging Markets Fund, a Hedge Fund based in Massachusetts, has invested N261.406 million in the Nigerian Exchange Group (NGX Group) Plc.

NGX Group disclosed this in a statement signed by Mojisola Adeola, Company Secretary and obtained by Investors King.

MIRI Strategic Emerging Markets Fund was founded in December 2018 and raised $128.98M from 40 investors to commence operations.

The company, a substantial shareholder in NGX Group, purchased an additional 10,617,641 shares at N24.62 a unit on June 27, 2022. This translates to an additional investment of N261.406 million.

As an insider with existing holdings in NGX Group, NGX Group is required by Security and Exchange Commission (SEC) to disclose all insider trading like the MIRI Strategic transaction.

SEC instituted the policy to enforce transparency across the Exchange and ensure shareholders and the public are aware of all insiders’ activities.

The purchase took place at the Nigerian Exchange Limited trading floor in Lagos, Nigeria. See the picture before for other details.