NASD OTC Securities Exchange Admits the Securities of NEWREST ASL Nigeria Plc on Its Platform

Friday, June 12, 2020  / 9:45 AM / by NASD Plc / Header Image Credit: NASD Plc

NASD OTC Securities Exchange welcomes NEWREST ASL Nigeria Plc to its trading platform. NEWREST ASL was introduced by APT Securities Limited on the 11th of June 2020 via Security Admission. Shareholders of NEWREST ASL Nigeria PLC are therefore informed that their shares are admitted and eligible to trade on the NASD OTC Exchange.

On behalf of the Board and entire staff of NASD Plc, we congratulate NEWREST ASL on the accomplishment of this milestone.

Crowdfunding

This week we shall be wrapping up our series on Crowdfunding which commenced six weeks ago. We commenced the series on crowdfunding to better intimate stakeholders with the concept of crowdfunding among other pertinent issues relating to Crowdfunding. Over the course of the series we discussed the following:

1. In week one, we considered a bit of Crowdfunding history dating back to 1997 when Marillion Rock band raised $60,000 through the internet to fund their tour. Also we delved into how the Crowdfunding system operates and the various types that exist such as Equity, Donation-based etc.
2. The following week we did a summary review of the exposed Crowdfunding rules by the Securities and Exchange Commission of Nigeria taking into consideration the proposed guidelines for regulated players such as Issuers, Investors and Crowdfunding Portals / Intermediaries. The write up also provided a review of some general restrictions and prohibitions on Crowdfunding Portals.
3. Week three discussed the benefits of Crowdfunding for MSMEs and Investors while also distinguishing between bank loans and funds from Crowdfunding. Benefits such as higher returns, investment diversification and tax benefits were identified for the investors. While MSMEs benefit from accessing patient funds, business model validation and marketing opportunity.
4. Week four identified the importance of regulating Crowdfunding as a source of capital for Start-ups and the possible consequences if the space is left unregulated. We highlighted the importance of controlling the excesses of participants such as – MSMEs, Investors, and Crowdfunding Platforms/Portals through the use of Issuer limits, Investor limits and disclosure requirements.
5. Crowdfunding has a lot of benefits to the entrepreneurs who use it, therefore, we chose to discuss the accruable benefits of Crowdfunding as a source of capital in our week five write up. We considered benefits such as; bringing ideas to fruition, customer retention, accessibility, affordability and retaining business control among others.
6. In week six, we discussed the viability of Crowdfunding as a source of capital for MSMEs in the Nigerian climate. We reviewed drivers of success such as enabling policies, technology and mitigation of risks associated with Crowdfunding.

NASD in its capacity as an Exchange continues to facilitate capital raise across various sectors within the Nigerian economy and Africa in extension. We believe that crowdfunding would provide an alternative capital raise avenue and a viable platform to stimulate investment flows into enterprises in Nigeria, especially MSMEs who have historically experienced difficulty in accessing funds for sustenance and expansion of operations.

Year-to-Date Overview 

NASD OTC Securities Exchange Market closed on a negative note this week, as the market recorded a decrease in performance. NASD Security Index Year to date return fell by -2.16%. Total volume traded Year-to-Date stands at  7,791,099,074 units in 638 deals and total Value traded is ₦ 10,058,374,373.43

Week 24 Overview 

NASD OTC Securities Exchange closed the week with a negative return in NSI. The NSI return fell by -1.43% to close the week at 682.49 points against 692.38 points in the preceding Friday, June 05 2020.

In addition, Week 24 saw NASD Investors lose ₦7.26 Billion in value. NASD OTC Market capitalization closed at ₦501.34 Billion compared to ₦508.60 Billion in the preceding Friday, resulting from a negative movement of prices.

There was a -55.41% decrease in the total value traded during the week as week 24 saw NASD Investors trade a total of ₦43.65,251,685.00 in value compared to ₦146,324,982.3 in the previous week. Total trade activity for the year is valued at ₦10,058,374,373.43 .

In the same pattern, volume traded during the week was 398,800.00 units compared to  2,077,013 units in the previous week leading to a -80.80% decrease in trade volume compared to week 23. Total volume traded for the year is 7,791,099,074 units.

Top Traded Securities by Volume 

The week closed with Niger Delta Exploration and Production Plc Ranking top among three most traded securities by volume and Central Securities Clearing System Plc as the least traded among the three most traded in week 24.

Top Traded Securities by Values

The week closed with Niger Delta Exploration and Production Plc ranking top among top three most traded securities by value and Central Securities Clearing System Plc as the least traded among the three most traded securities by value in week 24.

Advancers in the week 

The Nasd OTC Securities Exchange closed the 24th week with no security gaining in Market Capitalisation.

A Big Stock Declines! 

Two of NASD OTC big stocks close the week with a negative movement in price. Central Securities Clearing System Plc which currently holds a Market Capitalization of ₦65.25 Billion closes the week at ₦13.05 representing a -3.33 percent decrease from the previous close of ₦13.5. 

Niger Delta Exploration and Production Plc which currently holds a Market Capitalization of ₦49.40 Billion closes the week at ₦272.35 representing a -9.22 percent decrease from the previous close of ₦300.

Related News

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2. Viability of Crowdfunding as a Source of Capital
3. Benefits of Crowdfunding as a Source of Capital
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5. Benefits of Leveraging on Crowdfunding for MSMEs
6. NASD OTC Market CAP Records No Movement; Remains At N514.74bn
7. Crowdfunding: A Viable Capital Raise Solution for Enterprises
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