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Tuesday, January 14, 2019 / 11:25 AM /
Ottoabasi Abasiekong for WebTV / Header Image Credit: WebTV
The Nigeria Stock Exchange has targeted the
year 2020 to achieve the launch of its Equity Growth Board. The Growth Board
represents a group of small to medium-sized companies listed, or with prospects
of listing, on the Exchange that exhibit the potential for fast growth in
their share values as a result of fast-paced turnover and earnings growth
usually not lower than 15% per annum.
CEO of the Exchange Mr. Oscar Onyema, OON,
revealed this at the 2019 Recap and 2020 outlook session the NSE in Lagos
recently.
Responding to Proshare's question
on the timeline and operability of the Growth Board, Onyema said the NSE was
giving top priority to the commencement of the Board and assured that the Board
would be operational later in the year.
He said the board created the opportunity for
High-Growth companies to list in the market and deepen activities on the
Bourse.
Onyema noted that the rules and guidelines
for listing on the Growth Board were already in place.
The rules were approved by the Securities and
Exchange Commission (SEC) Nigeria in Q2, 2019.
According to him the Growth Board would be
launched when a number of High-Growth companies come onboard to list on the
Exchange in the course of the year.
NSEASI: Jan 04, 2016 to Jan 13, 2020
Source: NSE, Proshare Research
In 2019 about 97 Nigerian companies were
listed as being among the "Companies to Inspire Africa" in a report released by
the London Stock Exchange group. A few of these companies may be listed members
of the NSE in 2020.
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