March 23, 2018/NASD Plc
Taking the Capital Market Upstream!
In continuing our efforts to deepen the reach and impact of the capital market in the “real”economy, NASD sponsored an Investment Readiness Series organised by the Entrepreneurship Development Centre (EDC).
The session, which was well attended by alumni of EDC and other growth focused enterprises, featured presentations on preparing growth enterprises for investments, a panel session focused on What Investors and Funders look out for, and a presentation by NASD OTC on the benefits and framework of the NASD Enterprise Portal (NASDeP). Key takeaways from the session include:
To attract the right funding to your enterprise;
• ensure that you keep proper financial records
• have a good team and a strong business or investment case
• adhere to good corporate governance and transparency standards
• pay attention to the legal and regulatory matters that affect your business
NASDeP plays a leading role in easing the funding challenges of enterprises, reducing reliance on expensive debt, and providing access to SEC licensed capital market professionals who are able to provide financial capital, and strategic and managerial synergies. NASDeP also aligns with the Economic Recovery & Growth Plan (ERGP) to reinvigorate the Nigerian economy and restore growth by attracting sustainable investments into our indigenous enterprises.
Participants also had the opportunity to listen to some registered NASDeP members such asPwC, on their role on the portal and the value they bring growth enterprises in packaging their businesses and refining strategic initiatives for growth.
The NASD OTC Market ends the week in with a marginal increase in market metrics, as the NASD USI increased by 0.23%, closing at 662.80 points (as against 661.30 points last Friday). Consequently, total market capitalisation gained 0.23% this week, closing higher at N448.53 billion compared to N447.52 billion last Friday.
Last year, we commenced a classification of NASD OTC admitted securities into categories that reflect the level of financial disclosure, adherence to corporate governance standards, dematerialisation of shares and liquidity of the 36 securities trading on the OTC Market. At the end of this exercise, Twelve (12) Securities were ranked in the Blue Category, Eight (8) in the Pink Category, and Fifteen (15) were in the Red Category.
In line with efforts to promote transparency, NASD will conduct a first review of all securities on the OTC Market on Friday, 27 April 2018. This review will update the categorisation rankings in response to changes in compliance levels.
We believe that this service will enhance transparency on the inherent value in such companies, improve levels of investor confidence and also, improve activities on the OTC Market.
NASD OTC Securities Exchange currently trades Equity and Bonds. Of the 36 securities admitted to trade on the OTC Market, Friesland Campina Wamco Nigeria PLC both led the market by volume and value.
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