WED, JAN 29 2020-theG&BJournal-The Nigerian Stock Exchange (NSE) today unveiled the NSE Growth Board which it says is aimed at encouraging companies with high growth potential to seize the opportunity of raising long term capital and promote liquidity in the trading of their shares. The board also presents as an avenue for companies in their growth phase to leverage the NSEs platform and varied products and services to achieve their long term business objectives.
Oscar N. Onyema, OON, Chief Executive Officer, The Nigerian Stock Exchange, unveiled the Growth Board to stakeholders and urged them to be an integral part of the success of the project.
‘’This platform is pivotal to our efforts in catering to a segment of the economy that hitherto has been neglected and perceived as a high risk and low reward venture by most service providers especially in relation to access to capital from financial institutions. I therefore would like to use this medium to invite the growth companies represented in the room today and companies indicated in the CTIA report to join the NSEs Growth Board ecosystem and use the platform to achieve their strategic business objectives,’’ Onyema said.
The launch of the Growth board is line with the Exchange’s focus and drive to deepen the Nigerian Capital market and its support for Start Ups and Small and Medium Enterprises, according the NSE boss, and designed to offer relaxed entry criteria as well as less stringent ongoing listing requirements and allows for greater accessibility to capital flows, global visibility and credibility through corporate disclosures.
The growth board also restructures current market segments to better meet needs along company’s entire lifecycle i.e. Entry Segment – for companies with a Market Capitalization from ₦50m and Standard Market for institutions with a Market Capitalization from ₦500m. The segmentation of the boards also provides alternative options for interested investors to participate in each company’s growth journey.
According to Onyema, to successfully achieve our listed company’s growth strategy and listing objective, the NSE will be collaborating with various strategic business partners and value added service providers to offer cost effective services designed to create a competitive edge for listed companies within their respective industries while stimulating investors’ interest through enhanced information delivery.
Services such as pre-listing diagnostics; Institutional Services (including audit services, financial advisory, legal advisory, corporate strategic advisory); Investor Relations; Analyst Coverage, Corporate Access and Corporate Governance. The Exchange will also provide tailored trainings on its learning and development platform “X-Academy” for capacity development and to promote increased Corporate Governance for Board and employees of companies on the Growth Board.
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