Following the launch of the Nigerian Stock Exchange (NSE) growth board, its Chief Executive Officer, Oscar Onyema, has said it would promote liquidity in the trading of shares as well as offer opportunity for companies to achieve long term business objectives.
Onyema, who made this known during the launch of the NSE’s growth board in Lagos yesterday, noted that despite the significant contributions by the Small Medium Enterprises (SMEs) to the Nigerian economy, operators are still experiencing difficulties due to harsh business landscape. He explained that with the headwinds in the country as well as the Exchange’s drive to deepen the capital market and its support for start-ups and SMEs, the NSE came up with the innovation of the growth board.
“The Growth Board aims to encourage companies with high growth potential to seize the opportunity of raising long term capital and promote liquidity in the trading of their shares and present 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”, he explained.
According to him, the board is 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.