By Peter OBIORA investadvocate

Nov 26 2010 05.40 GMT

Lagos (INVESTADVOCATE)-The London Stock Exchange (LSE) has reported $7.5 Trillion Market Capitalisation.

Ibukun Adebayo, Head of Primary Markets, Middle East & Africa, of the London’s Exchange made this confirmation at the Nigerian Capital Markets (NCM) Workshop Press Briefing held Wednesday November 24 2010 Lagos Nigeria.

 

Adebayo while responding to a question posed by investadvocate affirmed that Market Capitalisation for the London Stock Exchange Group Plc as a listed company stood at about $2.5 billion, while that of the London Exchange comprising all the listed companies on its Floor stood at $7.5 Trillion.

 

“On Market Capitalisation, there are two, because we are a listed company ourselves, Market Capitalisation of the London Stock Exchange Group Plc which acquired the Italian Stock Exchange in year 2007 and Millennium  Information Technology, an information trading technology platform in year 2009 and a number of other acquired companies puts us at a Market Capitalisation of approximately $2.5 billion, but the Market Capitalisation of the entire companies listed on the London Stock Exchange is in excess of $7.5 Trillion” he said.

 

Datamonitor Financial Deals Tracker had reported in September 2009 that the London Stock Exchange Group Plc, a UK-based operator of Stock Exchange, had agreed to acquire Millennium Information Technologies, Ltd. (MillenniumIT), a Sri Lanka-based technology solutions provider serving the Capital Markets Industry for $30 million.

 

The report had affirmed that under the terms of the offer, LSE has offered to acquire 100% of MillenniumIT’s shares for cash consideration with a share alternative. “LSE would pay  73 percent (73%) of the total consideration in cash, with the remaining in new LSE shares to be issued, estimated at around 0.6 million shares.

The transaction it was reported completed mid October 2009.

 

Meanwhile, Ballama Manu Interim President/Council Chairman of the Nigerian Stock Exchange (NSE) at the just concluded 49^th Annual General Meeting (AGM) of The Exchange affirmed that as at October 29 2010 the NSE’s Market Capitilisation stood at N10.1 Trillion.

 

“Our Market Capitalisation, which opened at N7.03 Trillion appreciated to N10.1 Trillion on October 29 2010 due to the impact of new listings both Equities and Bonds including price appreciations” he said.

Manu said that the Equity Market capitalisation opened at N4.99 Trillion and stood at N7.99 Trillion on October 29 2010.