Citi targets China securities license; Nigeria revives NNPC, NLNG listings

· Finance · China · Nigeria

Citigroup is counting on securing an onshore securities license in China as the US lender expands operations in the world's second-largest economy after a string of major consumer exits across Asia. In Africa, Nigeria revived plans to list state oil company NNPC and gas producer NLNG on the stock exchange as part of a push to grow market capitalization to $500 billion by 2036. NNPC's listing has faced repeated delays and may slip to 2028, while NLNG would need approval to proceed. Elsewhere in exchange news, ASX Ltd. said it will unveil more details of its strategic transformation in the first half of next year as the embattled bourse seeks a turnaround under CEO Attia. The three moves reflect a broader push by exchanges and global banks to deepen capital markets outside the traditional hubs of New York and London.

Why it matters：Global banks and exchanges are competing to build depth in China and African markets, a trend that could shift where capital is raised and traded over the next decade.

Key points

  • Citi is expanding in China after consumer exits elsewhere in Asia.
  • Nigeria targets $500 billion market capitalization by 2036.
  • ASX plans to detail its transformation in the first half of next year.

Sources (original reporting)

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