The Nigerian Stock Exchange (NSE) on Friday admitted Briclinks Africa Plc to its Growth Board in a listing by introduction of 10 million ordinary shares of N1.00 each at N6.26 per share.
The company’s listing was formalized with a digital Closing Gong ceremony during which the Chief Executive Officer, Briclinks Africa, Mr. Mohammed Buhari, had the honour of closing the day’s trading on the exchange.
Speaking during the occasion, the NSE Chief Executive Officer, Mr. Oscar Onyema, enthused: “We are delighted to welcome Briclinks Africa Plc to The Exchange. This listing is a milestone in our desire to accommodate small and medium-sized enterprises (SMEs) that hitherto have been underrepresented in public markets. It is indeed a critical step in the NSE’s efforts towards greater representation of growth companies on the bourse.
“With this listing, we encourage Briclinks Africa Plc as it commences life as a publicly quoted company to continue to abide by its post listing obligations whilst striving for transparency as this would ultimately create value to shareholders”, the investment expert projected.
In his remarks, the Briclinks CEO said: “It is with great pleasure that we at Briclinks Africa Plc attend this special event to mark our Listing on the Growth Board of the NSE.
“We have dreamt about this day and worked towards it with effervescence right from the moment we decided to be listed on the NSE about 17 months ago. We have from this process emerged as a better entity well-tuned to corporate best practices and culture.
“We would like at this point to thank our Financial Advisers to the Listing, Afrinvest Securities, and the NSE team for their untiring support and guidance in making this day a reality”, Buhari added.
It would be recalled that in January last year, NSE launched the Growth Board in a strategic move to encourage companies with high growth potential to avail the opportunity offered by the bourse of raising long term capital and promote liquidity in the trading of their shares.
Some of the earlier listed entities on the NSE Growth Board are McNichols Plc, Living Trust Mortgage Bank Plc, Chellarams Plc and The Initiaties Plc.
Based on its antecedents of increased efficiency in terms of competitive pricing structures, improved turnaround time, enhanced customer experience as well as the current market conditions, the NSE has continued to remain an attractive listing destination.