going public
Going public means a company sells shares to the general public for the first time and gets listed on a stock exchange, so anyone can own a piece of it.
In plain English
Think of a family business the way you would think of a well kept compound with one big gate and one key, held by the father who built it. Only the family decides who enters, who eats from the harvest, and how the rooms are shared. Going public is like that same family deciding to open the gate to the whole street, selling little keys to anyone willing to pay, so now the neighbours also have a say in how the compound is run.
In practical terms, going public means a private company offers its shares to the general public for the first time, usually through what is called an Initial Public Offering, and then gets listed on a stock exchange where those shares can be bought and sold every trading day.
A Nigerian example that many people remember is MTN Nigeria, which operated for years as a private company before it listed on the Nigerian Exchange in 2019, allowing ordinary Nigerians to buy shares and become part owners of a business they had been paying airtime to for nearly two decades.
In the United Kingdom, a familiar version of this is when a growing tech company lists on the London Stock Exchange, and suddenly pension funds, retail investors, and even the founder's old university mates can own a slice of something they once only read about in the news.
For a Nigerian abroad sending money home, going public matters in a calm practical way too, because it means you can invest in Nigerian companies from London or Lagos through a brokerage account, owning shares in a business back home the same way you might own shares in a UK company on your trading app.
The trade off is real. Going public brings in fresh money for growth, but it also brings scrutiny, reporting rules, and shareholders who now expect answers, quarterly results, and sometimes uncomfortable questions at annual general meetings.
A private Nigerian fintech company decides to list on the Nigerian Exchange, offering 100 million shares at ₦50 each. It raises ₦5,000,000,000 to expand into new states, and for the first time, ordinary Nigerians can buy shares and share in its future profits.
Questions people ask
Why would a company want to go public instead of staying private?
Mainly for money and visibility. Going public raises large amounts of capital quickly, gives the company a public profile that can attract customers and talent, and gives early investors and founders a way to sell some of their shares for cash.
Can an ordinary Nigerian buy shares when a company goes public?
Yes. Once a company lists on the Nigerian Exchange, anyone with a brokerage or stockbroking account can buy shares during the initial offering or afterwards on the open market, the same way you would buy shares in any listed company.
What does a company give up by going public?
Privacy and full control. A public company must publish financial results regularly, answer to shareholders, follow stricter regulations, and accept that its performance is now watched and judged by the public and the media.
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