The Publisher and Chairman of The Guardian Newspapers, Lady Maiden Alex-Ibru, has spoken about the company’s desire to be listed on the Nigerian Stock Exchange in the near future.
Lady Alex-Ibru made this disclosure on Friday, August 24th, when she was invited to perform the Closing Gong Ceremony in recognition of her company’s 35th anniversary. In her remarks, she expressed gratitude for the honour bestowed her company, while also extolling the virtues of the NSE.
She also stated that it is in recognition of the numerous accomplishments of the Nigerian Stock Exchange that The Guardian Newspaper is interested in being associated with it.
“We would, in this connection, like to appreciate the recognition you have accorded us by this – as we clock 35 this year. It is marvelous in our eyes. Because of your remarkable profile, Guardian Newspapers Limited, owners of the flagship of the Nigerian Press, The Guardian, with strong brand equity too, may be listed on this prestigious Stock Exchange in the near future.” – Lady Alex-Ibru
Note that this is coming at a time when the number of new securities on the Nigerian Stock Exchange continues to rise, thereby increasing market capitalisation in the process.
The Guardian would become the first newspaper company to list on the Nigerian Stock Exchange.
Why this matters…
The potential listing of The Guardian Newspaper, which is a leading national daily in the country, will not only give the company more visibility but also increase its chances of easily raising capital in the future. This is important, seeing as most newspaper companies are struggling to survive in a market that is gradually being overtaken by online media.
It would also avail the public an opportunity to put their money in a meaningful investment that would hopefully yield returns in the future.
Meanwhile, the call for more companies to list on the Nigerian Stock Exchange has been an ongoing one. As we reported earlier, the Nigerian Content Development and Monitoring Board (NCDMB) recently called on oil companies to list on the Nigerian bourse as that would stimulate growth in the sector.
Established in 1983 by Dr. Alex Uruemu Ibru, The Guardian Newspaper is one of the foremost independent national dailies headquartered in Lagos. It is owned by Guardian Newspapers Limited and has in the past been described as “Nigeria’s most influential newspaper”.
