The Nigerian Stock Exchange (NSE) will on Friday February 5 List by Introduction on its Growth Board the shares of Briclinks Africa Plc, making it the Exchange’s first listing in 2021.
Briclinks Africa Plc is a telecommunication company that empowers businesses and homes to thrive in a connected world.
It commenced business operations as a Telecommunications/General Contract company in July 2018 after it was issued an Internet Service Provider (ISP) license by the Nigerian Communications Commissions (NCC).
In Listing by Introduction, the company’s shares are listed without prior Initial Public Offering (IPO). It means that the company would have raised capital prior to applying to list, and also must have met the listing requirements – including a minimum number of public shareholders – 51 to list on the Growth Board and minimum public float of 15 percent for Growth Board.
Public float is the portion of a company’s outstanding shares that is in the hands of public investors, as opposed to company officers, directors, or stockholders that hold controlling interests. These are the shares that are available for trading.
To commemorate the listing, there will be a digital Closing Gong Ceremony with Mohammed Buhari, Chief Executive Officer, Bricklinks Africa Plc.
Like other ISPs, Briclinks Africa Plc is regulated by the Nigerian Communications Commissions under the Nigerian Telecommunications Act of 2003 (As Amended).
