• World
  • Columnist
  • Commodities
  • WORLD BUSINESS & ECONOMY
  • Executive Knowledge Series
  • Finance
  • Manufacturing
  • Markets
  • Risk & Governance
  • Small Business
  • Technology, Media & Innovation
  • Comments
  • Business AM WebTV
  • Login

Businessamlive
  • FRONTPAGE
  • FINANCE
    • AllAsset ManagementAuditBankingBondBudgetCapital MarketsC&I LeasingCurrencyDealDebt marketForexFund RaisingFundingGovernmentHedge FundsInsuranceInvestmentInvestorInvestor ServicesMergers & AcquistionsMoney marketTreasury BillsMortgagePensionsPersonal financePonziQuantitative EasingshareTaxationTSAWealth Management
      Finance

      CBN says cryptocurrency ban in interest of Nigerians

      13 hrs

      Companies-in-Action

      Zenith Bank in strong operational performance as profit rises 10.4% to N230.56bn in FY20

      13 hrs

      Companies

      United Capital posts strong numbers as earnings rise 50% to N12.87bn in 2020

      February 23, 2021

      Finance

      CIBN revives mentorship initiative for bank workers

      February 20, 2021

  • MARKETS
  • ECONOMY
    • AllAfricaAgricAirportsAmericaAsiaAustraliaBreakthroughDealEuropeForeign InvestmentsforexGlobal marketGovernanceIMFMiddle EastNECANigeriaOutlookRich listSouth AfricaSport BusinessTradeU.KWest AfricaWorld Economic forum
      Insurance Business

      Enterprise risk management surges amid pandemic, RIMS reports

      12 hrs

      WORLD BUSINESS & ECONOMY

      Hyundai to recall 82,000 electric cars over battery malfunction

      13 hrs

      Frontpage

      Global health insurance premiums fall amid pandemic, says new report

      February 24, 2021

      Frontpage

      Insurance M&A record highest growth in Africa, Middle East in 2020

      February 23, 2021

  • COMMODITIES
  • ENERGY
    • AllConferenceElectricityOil and GasPowerRenewable
      Oil and Gas

      REA delivers 100kW hybrid solar mini grid to Edo community

      < 1 min

      Oil and Gas

      OPL 310: LEKOIL engages Optimum Petroleum over CRSA agreement

      6 hrs

      Frontpage

      Nigeria still losing 200,000bpd crude daily as NNPC enlists army’s intervention

      13 hrs

      Frontpage

      Nigeria to sell 170MW electricity capacity to Togo from Calabar plant

      February 24, 2021

  • TECHNOLOGY
  • MANUFACTURING
  • ANALYSIS
    • Analyst Insight

      Coronation MB analysts project sharp rates rise after Nigeria recession exit

      12 hrs

      Analyst Insight

      How NITDA can further foster data protection compliance in Nigeria

      February 22, 2021

      Analyst Insight

      Do we need more start-ups in insurance?

      February 16, 2021

      Analyst Insight

      Naira, PMI’s and Inflation in focus

      February 16, 2021

Frontpage

Nigerian Stock Exchange premium board to admit four listed companies

April 13, 20181K views0 comments

Access Bank Plc, Lafarge Africa Plc, Seplat Petroleum Development Company Plc and United Bank for Africa Plc will on Monday, April 16, 2018 be migrated to the Nigerian Stock Exchange Premium Board.

The migration is sequel to the companies’ applications and meeting the exchange’s listing requirements for the board.

This will bring the companies listed on the Premium Board of the Exchange to a total of seven including Dangote Cement Plc, FBN  Holdings Plc, and Zenith International Bank Plc who were migrated to the Premium Board in 2015.

According to a statement made available by the Exchange Thursday, the Premium Board is the listing segment for the elite group of issuers that meet the Exchange’s most stringent corporate governance and listing standards.

Read Also:

  • Nigerian stock-fish dealers want access to foreign exchange
  • Spotify offers Nigerians wide access to digital contents, launches N900…
  • Apple stakeholders push more Nigerian production to checkmate $29.7m import bill
  • Government’s forex policy direction still keeps foreign investors from…

The Board is a platform for showcasing companies who are industry leaders in their sectors. Premium Board features companies that adhere to international best practices on corporate governance and meet the Exchange’s highest standards of capitalization and liquidity.

It gives company access to a global pool of investors who are focused on companies managed in conformity to the highest standards in their target markets.

Access Bank Plc, Lafarge Africa Plc, Seplat Petroleum Development Company Plc and United Bank for Africa Plc have all passed the Corporate Governance Rating System (CGRS) and have market capitalisation of N347.12bn, N378.60bn, N391.37bn and N374.48bn respectively.

Commenting on the development, Oscar N. Onyema, the chief executive officer, NSE, said, “This migration affirms the strides our listed companies are making towards meeting the highest standards of corporate governance and underpins the robustness of our market.

The new companies have consistently demonstrated their inherent values to be globally competitive brands and we congratulate them on the attainment of this migration,” he said.

“Companies on the Board are already enjoying the highest levels of visibility and appeal to investors looking for large companies with highest standards of corporate governance.

From inception  to date, the Premium Board Index continues to outperform the benchmark NSE ASI with the Premium Board recording a total return of 84.99% versus the NSE ASI’s 41.79% as at 11 April 2018. The Premium Board’s performance continues to reinforce the sentiments of both foreign and domestic investors on the importance of corporate governance and sustainability”, he added.

To be listed on the Premium Board of The NSE, the aspiring companies must attain a minimum market capitalization of N200bn as at the date of application, a minimum score of 70% on the Corporate Governance Rating System (CGRS), and maintain a minimum free float of 20% of their issued share capital or a free float  value equal to or above N40 billion, as well as meet other standard listing criteria.


Report courtesy Afolabi Adesola, a contributor to businessamlive.com

Share on Facebook Tweet Email
TagsAccess Bank Plc Lafarge Africa Plc listed companies Nigerian Stock Exchange premium board Seplat Petroleum Development Company Plc and United Bank for Africa Plc
PreviousAfDB, Export Trading Group sign $100m deal towards improving food productivity, distribution in Africa
NextNigerian Breweries proposes 100% 2017 dividend payout ratio to Shareholders

Leave a comment

- Cancel reply

MARKET DATA

Market Videos

Recent Posts

  • Nigeria bourse in red as selloffs in banking, consumer goods stocks see bears return  
  • African Alliance paid N967m in claims in first 40 days of 2021, MD reveals
  • REA delivers 100kW hybrid solar mini grid to Edo community
  • Unilever Nigeria to complete tea business separation by end of 2021
  • Nigeria records 6% drop in vessel traffic

World

Africa

Buhari, Okonjo-Iweala congratulate Adesina over reelection as AfDB President

Europe

EU businesses to cut investments in 2020, says EIB report

America

U.S. increases cost of visa application for Nigerians

Africa

Thatcher-Loving Nigeria Candidate Plans to Overhaul Economy

Africa

AfDB scales up industrialization pace on the continent, delivers improved business access to finance, skills, energy

Frontpage posts

0

IMF puts dampener on Nigeria’s 2021 growth projection at 1.5%, but better 2020 close

Frontpage January 29, 2021

1
2

Nigerian stocks sell-offs continue as global markets rebound from weak open

Frontpage February 7, 2018

3

Missing $12bn oil revenue: court fixes April 30 for FG’s suit against oil companies 

Frontpage February 13, 2019

4

Larfarge, Unilever, Oando, Union Bank to raise N273bn from rights issue

Frontpage June 6, 2017

5

Africa faces shortfall of 50 million jobs by 2040 – report  

Frontpage June 27, 2017

SUPPORT

  • Photo Gallery
  • Help Centre
  • About Us
  • Accessibility

LEGAL & PRIVACY

  • Terms & Conditions
  • Privacy
  • Cookies
  • Copyright

SERVICES

  • Conferences & Events
  • Analysts Research
  • Advertising Rate
  • Ebooks

TOOLS

  • Portfolio
  • Newsletters
  • News feed
  • Currency Converter

SUBSCRIBE

Join us to get latest updates on business related news.

[mc4wp_form id="3076"]
  • ABOUT US
  • CONTACT US
  • CAREERS
  • TERMS & CONDITIONS
  • PRIVACY POLICY
Copyright 2017. All rights reserved. BusinessAMLive. A Businessnewscorp Member Company.