Legend Internet Plc (NGX: LEGENDINT) is moving to acquire a licensed Telecommunications and Internet Services Provider and Microfinance Bank, both operating in Nigeria.
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At the 2nd Annual General Meeting of the company held on 7 November 2025, Shareholders of the company approved a proposal for the acquisitions.
The Shareholders also authorized the Board of Directors to raise additional capital of up to ₦150,000,000,000 (One Hundred and Fifty Billion Naira).
Legend Internet Plc was incorporated on the August 17, 2021, under the Companies and Allied Matters Act, as a private limited liability company.
The Company focuses on 3 main markets in the technology space: Fibre, Fin-tech and Wi-Fi. The Company’s broadband services, Legend Fibre and Wi-Fi, are the largest fibre to the home and public Wi-Fi networks in Abuja. The Company’s fin-tech service, Legend Pay, offers easy and seamless payments for customers and is directly integrated to merchants and banks.
For the Financial year ended 31 July 2025, Legend Internet Plc report a revenue of ₦1.19 billion (2024: ₦1.13 billion), and a profit after tax of ₦142.45 million (2024: ₦115.88 million).
The directors proposed a dividend of 6 kobo for every 50 kobo ordinary share for the year ended 31st July 2025 (2024: Nil). Legend Internet Plc has 2,000,000,000 outstanding ordinary shares and a market capitalization of ₦9,500,000,000 at the time of this report, as its share price stood at ₦4.75.
Legend Internet Plc, Nigeria’s leading last-mile fiber-to-the-home (FTTH) broadband provider, listed 2 billion ordinary shares at N5.64 per share by way of introduction on the Main Board of Nigerian Exchange Limited (NGX) in April 2025.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur
