New Telegraph

NSE migrates four firms from ASEM to growth boardIndex

The Nigerian Stock Exchange (NSE) 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 exchange also yesterday inaugurated the associated Growth Board Index.
This migration according to the Exchange follows the receipt of applications from these companies requesting to VVbe migrated from ASeM, and consequent screening and approval by the National Council of the exchange.

The NSE Growth Board was launched to assist small and medium scale enterprises (SMEs) and growth-oriented companies looking to raise capital and promote liquidity in the trading of their shares. It offers relaxed entry criteria with less stringent listing requirements making it easier to attract capital flows along with reduced pre and post listing obligations.

Commenting on the development, the Chief Executive Officer, NSE, Mr. Oscar Onyema, stated: “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

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