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NSE Growth Board
The Nigerian Stock Exchange, NSE is giving a lot of recognition to Micro, Small and Medium-sized businesses MSMEs in Nigeria as it considers them critical agents of economic development and transformation.
The Exchange is therefore providing support for the growth and development of small businesses in the country.
Its recent webinar titled “Capital Raising for SMEs through the Stock Exchange” was to discuss funding for small-cap businesses as well as the need for its Growth Board.
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Companies that have good corporate governance standards and advancement goals yet have little capitalization are the targets of the NSE Growth Board.
The NSE is encouraging them to list and to seize the opportunity of raising long term capital and promote liquidity.
Listing guide for the NSE Growth Board
Nigeria houses at least 41 million, Micro, Small and Medium Enterprises, MSMEs who provide 84% of total employment in the country and contribute about 47.8% to its GDP.
Since the launch of the Growth Board a little over a year ago, it only features only nine companies and a capital market capitalization of N7 Billion.
The NSE has included these companies in the All Share Index and also created the Growth Board index.
To join the NSE as a startup or SME, an applicant will either list on the Growth Board entry or standard segment.
The entry-level and the Standard segment of the growth board have different requirements. Visit the NSE PDF for Growth Board listing for more.
Here are a few general tips
The NSE will accept every issuer that seeks admission as long as they meet the requirements. Make a written application to the Exchange and execute the general undertaking for listing.
There are two routes to take for both the entry and standard level of the NSE GrowthBoard entries.
- A company that is already on the mainboard or the ASeM board of the exchange or a company that is seeking to list on the growth board of the exchange.
- New businesses that can provide evidence of investment in it and have a market cap equal to or greater than N50 million on the day of application.
