The X-PO, the first end-to-end online public offerings
platform in Africa, is designed to enhance the experiences of stakeholders in
the public offerings value chain, by providing a smarter and efficient way to
manage public offers in the Nigerian capital market.
As a self-service portal, X-PO allows investors to
conveniently subscribe and make payments for public offers through the web and
mobile (USSD), avoiding the hassle of physical completion and submission of
public offering applications forms and visiting the bank for payment.
Speaking on the development, the Chief Executive Officer,
NSE, Mr. Oscar N. Onyema, OON, noted that, “The launch of the X-PO platform
reinforces The Exchange’s commitment to revolutionise stakeholders’ experience
in the Nigerian capital market leveraging technology.
The X-PO has been designed to enhance the efficiency of PO
subscription process and operational workflow to support Issuers in raising
capital and enhance the reach of POs while promoting financial inclusion and
retail investors’ participation in the market. Furthermore, X-PO will
accelerate the reconciliation and allotment process for POs, as well as reduce
the incidence of unclaimed dividends, thereby boosting investor confidence in
the capital market.”
The Exchange will continue to innovate and adapt to new
technologies that will not only help companies improve operational efficiency,
but also enhance corporate governance which is paramount for sustainable
business operations. “The launch of the X-PO is particularly timely given the
new normal occasioned by the COVID-19 pandemic.
The platform’s sustainable approach affirms NSE’s commitment
to deploying environmentally friendly business practices and promoting
paperless public offer subscriptions. We have also taken into consideration the
vital need for privacy and data protection, deploying the highest levels of
security to ensure that stakeholders can enjoy a safe and secure digital public
offering experience,” Mr Onyema further stated.
Players within the capital market – investors, registrars,
issuing houses, brokers, banks and regulators – can expect to enjoy a wide
range of benefits with the launch of X-PO.