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NSE Seeks Advisers To Promote ASeM Listings

By on January 23, 2013

NSE President, Oscar Onyeama is ambitious about the future of the NSE

The management of the Nigerian Stock Exchange in a bid to boost listings on the Alternative Securities Market (ASeM), has called upon the registered dealing member firms to advise companies on getting listed on the ASeM.

The NSE issued a circular to dealing member firms yesterday, calling for applications from firms interested in providing the service.

“The NSE, through the Broker-Dealer Regulation Department, now invites eligible dealing member firms to indicate their interest in becoming designated advisers to companies listed on or/and seeking listing to the ASeM,” the notice read in part.

Applicants will be expected to show technical, and financial capacity, amongst other requirements set out by the NSE management.

Some of the other requirments include number, duration and approximate value of capital market transactions or similar engagements in the last three years; proven track record in providing required services; availability of resources (financial and technical capability); and satisfactory compliance history.

The NSE is seeking to boost market capitalization to $1 trillion by 2016, and is embarking upon several strategies to attempt to reach that goal. The current market capitalization of the bourse is less than $70 billion.