The Nigerian Stock Exchange have announced the the migration of four companies from the securities market. The four companies are Chellarams Plc, Living Trust Mortgage Plc, McNichols Plc, and The Initiates Plc who migrated from the Alternative Securities Market to the Nigerian Stock Exchange Growth Board and the launch of the associated Growth Board Index.
This was done in respect of the applications made by the four companies in which they requested to migrate from the Alternative Securities Market to the Nigerian Stock Exchange Growth Board, and subject to approval by the National Council of The Exchange.
The Nigerian Stock Exchange stated that the GrowthBoard’ was launched to assist Small and Medium Enterprisess & growth-oriented companies that need capital and promote liquidity in the trading of their shares.
The NSE noted that the migration is an evidence that the four companies meet corporate governance standards.
The NSE in their post congratulated the companies and affirmed their pleasure in migrating the four companies – Chellarams Plc, Living Trust Mortgage Plc, McNichols Plc & The Initiates Plc to the NSEGrowthBoard and reiterated that the companies will by virtue of migration have access to value-added services that will provide a competitive edge beyond access to capital.
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