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.