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MADE EASIER: SMALL BUSINESSES CAN NOW LIST ON THE NIGERIAN STOCK EXCHANGE

Nairametrics by Nairametrics
April 24, 2013
in Uncategorized
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The Nigerian Stock Exchange (NSE) yesterday (24/4/2013) inaugurated the Alternative Securities Market (ASEM) which is a trading platform for small businesses and SME’s in Nigeria to trade their equities on the NSE. The Small Businesses and Mid-Cap’s will be listed on the trading board of the NSE giving them an opportunity to access the capital market for equity funding.

Unlike equities on the main board of the NSE, companies who intend to list on the ASEM will not need the kind of stringent requirements that is fulfilled by the former. The NSE has in the past had the Second Tier Securities Exchange Market which have largely failed to attract investor money. I believe the success of the ASEM will depend on transparency of information and standardized financial reporting for the companies listed. That way investors can bride any asymmetry in information and utilize financial statements to form better investment opinions.

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The following companies are currently listed on the ASEM

 Adswitch plc, Afrik Pharmaceuticals plc, Anino International plc, Capital Oil plc, Juli plc, McNichols Consolidated plc, Rak Unity Petroleum plc, Rokana Industries plc, Smart Products Nigeria plc, Union Venture & Petroleum plc, and West Africa Aluminum Products plc.

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