VENTURES AFRICA – The Nigerian Stock Exchange (NSE) on Friday introduced a number of value added services to make the bourse more attractive and enhance performance, according to reports.
According to a Nigerian daily, ThisDay, Head of Listings Sales and Retention of the Exchange, Mrs. Taba Peterside said that the services aim to attract new listings while retain current listings, create a competitive edge for listed companies, improve investor interest in the market through enhanced information and assist listed companies in complying with post-listing obligations and retaining their listing status.
“We are partnering various local and international organisations to provide services such as Corporate Access, Investor Relations, Institutional Services, Corporate Governance and Independent Equity Research to enhance the value proposition of listing on the Exchange,” Mrs Peterside said at the launching of the initiative.
“The Corporate Governance bouquet is meant to assist the boards and executive management of listed companies to adhere to best practices in the rules and processes by which their businesses are operated. Through training programmes for directors and other stakeholders, the Exchange aims to promote fairness, transparency, accountability and integrity in an organisation’s relationship with all its stakeholders with a view to increasing shareholder value,” Mrs Peterside further explained.
Exchange Head said concerning independent equity research that the bourse would engage independent investment research firms to produce company reports for the investing public. “The focus is on less visible listed companies that are not covered by sell-side analysts. The aim is to raise the company’s profile and visibility with investors and ultimately lead to more interest and activity on its shares,” she said.
“The Institutional Services offering is designed mainly for SMEs seeking to access the Alternative Securities Market. This service is intended to aid SMEs in the design and documentation of appropriate internal business structures, management processes and procedures to position them as world class enterprises. A well-structured institution enhances accessibility to finance, “she stated.
The former bourse general manager also explained that the value added services would provide “real time access to significant buying and selling activity” for listed companies interested in monitoring investor appetite for their shares.
The Nigerian Stock Exchange (NSE) was established in 1960 as the Lagos Stock Exchange. As of September 5, 2012, it had about 200 listed companies with a total market capitalization of about 7.8 trillion naira ($49 billion).