The Nigerian Stock Exchange (NSE) today launched an Alternative Securities Market (ASeM) for Emerging Companies with high potential for growth in Nigeria.
The Chief Executive Officer of the NSE, Mr. Oscar Onyema, said that the ASeM is a specialised board on the Nigerian bourse where small to mid-sized companies can access the capital market under less stringent rules and requirements to raise long term, low cost capital.
The Executive Director Business Development of The NSE, Mr. Haruna Jalo-Waziri, had said that “the Nigerian Stock Exchange is a staunch believer in the critical role of emerging enterprises in a developing economy and as such we have taken the bold move of providing a platform for sustainable growth and development of these companies. The ASeM Board will allow issuers, especially indigenous companies the opportunity to inject relatively low cost and long term capital into their businesses through flexible rules that recognise their growth potential rather than the size of operation.”
The management of the NSE, few weeks ago, announced selected Designated Advisers (DAs) for companies listed on the Alternative Securities Market (ASeM).
The fourteen Dealing Member firms selected include ARM Securities Limited, BGL Securities Limited, Capital Asset Limited, Cardinal Stone Securities Limited, EDC Securities Limited, Fidelity Securities Limited, and FSDH Securities Limited. Others are Investment One Stockbrokers International, Magnartis Finance & Investment Limited, Marina Securities Stockbroking Services, Morgan Capital Securities Limited, Partnership Investment Company Limited, Primera Africa Securities Limited and UBA Stockbrokers Limited.