Tuesday, December 5, 2017 12.30PM / Proshare WebTV
As part of efforts in deepening the OTC market in Nigeria, the NASD OTC Exchange today introduced its Enterprise Portal to capital market stakeholders in Lagos.
CEO of NASD Plc Mr Bola Ajomale in his presentation said the Enterprise portal is designed to address the distinct lack on information on enterprise and their capital in the country.
Mr Ajomale shared that the portal presents structured information on performance, operations and investment opportunities in growth and value enterprises.
He affirmed that in terms of service delivery, the Enterprise portal obtained a SEC Nigeria no-objection to diversify into the service in November 2017.
According to Mr Ajomale, the community of the NASDEP is segmented into Enterprises, Due Diligence Analysts, Accredited Investors and Sponsors.
Speaking further on the NASDEP process, the NASD OTC boss said it provides a central database of private investment opportunities and investor pools.
“Through the NASDEP, we provide growth-oriented enterprises with access to patient capital and strategic partnerships”, Ajomale said.
He informed stakeholders that the NASDEP works through the four step levels of Prepare-Contact-Match and finally Execute.
In terms of the Due Diligence Analysts, Ajomale noted that they are segmented into the sell and buy side, and are capital market operators who are registered with the Securities and Exchange Commission of Nigeria.
On the guidelines for NASDEP, he shared that it revolved round confidentiality, distribution and a disclaimer for all operators.
The event was attended by issuing houses, dealing members and investment advisers and capital market correspondents.