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Business 20 Companies to Form new Premium Board for Nigerian Stock Exchange


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LequteMan

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The Nigerian Stock Exchange (NSE) may pick 20 companies out of the 30 stocks that made up its NSE 30 Index to form its new premium board. The NSE 30 Index tracks the 30 most capitalised stocks at the stock market.

Investigations indicated that the NSE may soon launch the new premium board, which will effectively make the Exchange a three-tier trading platform. The new premium board is designed as a market for the most capitalised stocks with the best corporate governance and liquidity. It is meant to showcase Nigeria’s best stocks to the global market.

The proposed premium board will be NSE’s exclusive board with its listing rules and criteria. The existing listing boards, the main board and the Alternative Securities Market (ASeM), will also continue to run concurrently with the new premium board. The existing listing rules will continue to apply to companies currently on the main board and ASeM.

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