“… We believe that the inclusion of these companies on the All-Share Index and the Growth Board Index of the NSE will provide increased visibility that will attract global investors.”CEO, Nigerian Stock Exchange, Mr. Oscar N. Onyema
The Nigerian Stock Exchange has announced the migration of Chellarams Plc, Living Trust Mortgage Plc, McNichols Plc, and The Initiates Plc from the Alternative Securities Market (ASeM) to the Growth Board.
The migration of the companies was necessitated, as a result of the satisfactory screening report and approval by the National Council of The Exchange after the receipt of application for a migration was received from ASeM by the companies.
The NSE Growth Board was launched on the 28th January, 2020 to support small and medium scale enterprises (SMEs) and growth-oriented companies looking to raise capital and promote liquidity in the trading of their shares.
According to a comment by the CEO of the Nigerian Stock Exchange, Mr. Oscar N. Onyema, the migration of the companies to the Growth Board will enhance the growth and visibility of the companies gobally.
“This migration affirms the notable efforts of the four companies to meeting corporate governance standards and underpins the robustness of our market. We congratulate and are pleased to migrate Chellarams Plc, Living Trust Mortgage Plc, McNichols Plc, and The Initiates Plc to the Growth Board where they will have access to a suite of value-added services that will give them a competitive edge beyond access to capital.”
“We believe that the inclusion of these companies on the All-Share Index and the Growth Board Index of the NSE will provide increased visibility that will attract global investors,” Onyema commented.
Present at the virtual commemoration ceremony are: the Chairman, Chellaram Plc, Asiwaju S.K. Onafowokan OON; Chairman, McNichols Plc, Olusegun Layode; Chairman, Living Trust Mortgage Plc, Alhaji Adebayo Jimoh; Chairman, The Initiates, Joe Ogbonna Anosikeh; Managing Director, Chellaram Plc, Chief S.M. Chellarams; CEO, McNichols Plc, Chimaraoke Ekpe; CEO, Living Trust Mortgage, Adekunle Adewole; and CEO, Nigerian Stock Exchange, Mr. Oscar N. Onyema.