Investment

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.
Samed Olukoya

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

Share
Published by
Samed Olukoya
2 years ago

Recent Posts

Discordant Tunes Greet 50% Tariff Hike As Subscribers Threaten To Sue NCC

Nigerians have expressed displeasure over the decision of the Nigerian Communications Commission to increase tariffs…

2 hours ago

Beatrice Ekweremadu Returns to Nigeria After Serving Sentence in UK

Mrs. Beatrice Ekweremadu, wife of former Deputy Senate President Senator Ike Ekweremadu, has reportedly returned…

2 hours ago

Nigeria Expands Refining Capacity with MRO Energy’s Delta State Refinery

The Federal Government has taken another step toward boosting Nigeria’s refining capacity with the approval…

2 hours ago

Eko DisCo Set for Transformation as Transgrid Enerco Signs Historic 60% Acquisition Agreement

Transgrid Enerco Limited has signed a Share Purchase Agreement (SPA) to acquire a 60% equity…

3 hours ago

Metering Gap Exceeds 7 Million Despite Multilateral Loans and Government Funds

Despite interventions by the Federal Government and multilateral lenders amounting to over N1.5 trillion, Nigeria’s…

3 hours ago

Petrol Prices Surge to N990 in Abuja, N960 in Lagos as Oil Tops $80 Per Barrel

The Nigerian National Petroleum Company Limited (NNPC) has increased the pump price of petrol at…

4 hours ago