By offering more liquidity in investment instruments to the Nigerian capital market, NASD will play a crucial role in the ability of Nigeria to sustain a real growth rate of above 7 per cent per annum, Bola Ajomale, managing director, NASD plc, has said.
He told journalists at a press conference in Lagos that NASD’s mission is to fuel economic growth in the West African sub-region by developing and operating active markets that adhere to the highest standards of performance and principles of integrity whilst also creating value for its stakeholders and investing in public.
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The company which commences operation July 2 after official launch on July 1 offers a platform from where investors can obtain information on available investments that are not listed on the Nigerian Stock Exchange (NSE). Such information includes prevailing prices/or last deal price on a security that they are interested in, new and exciting opportunities to invest in, an expanded range of asset class to choose from, among others. More so, NASD offers an opportunity to buy and sell non-listed securities in an organised and transparent market and the possibility of getting liquidity for share that are not listed on the NSE.
With NASD OTC market large corporates with a history of good performance and corporate governance will be able to showcase their performance and deliver better value for their shareholders by providing them with liquidity.
Also, growth stage companies that need additional financing for projects and growth can raise funding at the market, while limited liability companies that have converted to plc or have grown shareholder base to over 50 shareholders have an immediate ability to comply with the law that requires them to allow free trade on their shares.
