The Nigerian subsidiaries of Access Bank Plc, United Bank for Africa (UBA), Lafarge Africa Plc and the Nigerian independent oil and gas company Seplat Pretium Development Company Plc will join from Monday, April 16 the Premium Board of the Nigerian Stock Exchange (NSE) ).
They will join Dangote Cement Plc, FBN Holdings Plc and Zenith International Bank Plc which were transferred to the Premium Board in 2015, bringing the total number of companies to seven.
Premium Board is the listing segment for the elite group of issuers that meet the most stringent corporate governance and listing standards of the Nigerian Stock Exchange and was launched on Tuesday, August 25, 2015 alongside its Premium Board Index associated.
To be listed on the NSE Premium Board, aspiring companies must achieve a minimum market capitalization of € 200 billion at the time of application, a minimum score of 70% on the Corporate Governance Rating System (CGRS) and maintain a minimum capitalization, as well as meet other standard listing criteria.
“This migration confirms the progress our listed companies are making to achieve the highest standards of corporate governance and supports the strength of our market. The new companies have always demonstrated their intrinsic values to be globally competitive brands and we congratulate them on achieving this migration “commented Oscar Onyema, CEO of NSE
From its inception until today, the Premium Board Index continues to outperform the NSE ASI benchmark, with the Board Premium recording a total return of 84.99% versus 41.79% as of April 31, 2018 of NSE ASI.
