Who’s On The Nigerian Stock Exchange Premium Board?
The Nigerian Stock Exchange (NSE) today launched a high-end listing board that will showcase the stock market’s largest and most liquid companies.
Zenith Bank, Dangote Cement and FBN Holdings have just listed on the Premium Board after going through some verification process.
Haruna Jalo-Waziri, Executive Director at the Nigerian Stock Exchange, said the new board, known as the Premium Board, will be a market for the most-capitalised stocks with the best corporate governance and liquidity.
“We felt that there are certain companies which have met certain criteria in terms of governance and market capitalisation; they needed to be highlighted as to what they are on a consistent basis,” said Jalo-Waziri.
Companies on the Premium Board, Jalo-Waziri added, will enjoy unparalleled visibility to the global investor community.
“By highlighting them we are bringing them to the front and hopefully to get a better valuation ahead of their competitors,” he added.
He also said governance was one the core requirements for listing on the new board.
Companies will be required to meet demanding standards for corporate governance, capitalisation and liquidity.
“Governance is becoming a key issue in terms of how companies are run and we believe that creating that board will give them a classification on good governance,” he added.
“There is a level of capitalisation required for a company to list on the Premium Board so the value can easily be identified by investors.”
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