By Itohan Abara-Laserian
The Nigerian Stock Exchange (NSE) recorded another feat on Friday with the admission of Briclinks Africa Plc by way on introduction into the growth board (GB).
Speficially, the company listed 10 million ordinary shares of N1 each at N6.26 per share.
Briclinks Africa Plc is a telecommunication company that empowers businesses and homes to thrive in a connected world through the provision of broadband data, voice system, upgrade, maintenance and other communications cloud-based industry solutions, and integrated services.
Mr Oscar Onyema, NSE Chief Executive Officer, speaking at a virtual closing gong ceremony to commemorate the listing in Lagos, described the listing as a milestone.
“We are delighted to welcome Briclinks Africa Plc to The Exchange. This listing is a milestone in our desire to accommodate small and medium-sized enterprises that hitherto have been underrepresented in public markets.
“It is indeed a critical step in the NSE’s efforts toward greater representation of growth companies on the bourse.
“With this listing, we encourage Briclinks Africa Plc as it commences life as a publicly quoted company to continue to abide by its post listing obligations whilst striving for transparency as this would ultimately create value to shareholders,” Onyema.
He noted that the NSE in January 2020 inaugurated the growth board to encourage companies with high growth potential to seize the opportunity of raising long-term capital and promote liquidity in the trading of their shares.
“The growth board also presents as a platform for companies in their growth phase to leverage NSE’s platform, varied products and services to achieve their long-term objectives.
“With relaxed entry criteria as well as less stringent listing requirements, the GB allows for greater accessibility to capital flows, global visibility and credibility through corporate disclosures,” Onyema said.
Mr Mohammed Buhari, Chief Executive Officer of Briclinks Africa, said that the company had emerged a better entity with the listing.
Buhari said that the company was not only about building a company but an institution that would be investors first choice.
“We have dreamt about this day and worked toward it. We registered the company from day one at the Corporate Affairs Commission as a Plc without having any idea that this day will come so soon.
“We have from this process emerged as a better entity well-tuned to corporate best practices and culture.
“We would like at this point to thank our Financial Advisers to the listing, Afrinvest Securities, and the NSE team for their untiring support and guidance in making this day a reality,” he said.
Recall that in January 2020, NSE launched the growth board to encourage companies with high growth potential to seize the opportunity of raising long term capital and promote liquidity in the trading of their shares.
The NSE growth board is home to McNichols Plc, Living Trust Mortgage Bank Plc, Chellarams Plc, The Initiaties Plc and now, Briclinks Africa Plc. (NAN)