The Nigerian Stock Exchange (NSE) last Friday admitted Briclinks Africa Plc to its Growth Board with the listing by introduction of 10 million ordinary shares of N1.00 each at N6.26 per share.
The listing was commemorated with a digital closing gong ceremony where the Chief Executive Officer, Briclinks Africa Plc, Mr. Mohammed Buhari, had the honour of bringing the day’s trading to an end.
Speaking at the ceremony, the Chief Executive Officer, NSE, Mr. Oscar Onyema, said: “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 (SMEs) that hitherto have been underrepresented in public markets.
“It is indeed a critical step in the NSE’s efforts towards 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.”
On his part, Buhari said: “It is with great pleasure that we at Briclinks Africa Plc attend this special event to mark our listing on the Growth Board of the NSE. We have dreamt about this day and worked towards it with effervescence right from the moment we decided to be listed on the NSE about 17 months ago.
“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.”
Briclinks Africa Plc commenced its business operations as a telecommunications/general contract company in July 2018 after it was issued an Internet Service Provider (ISP) license by the Nigerian Communications Commissions (NCC).
NSE launched the Growth Board in January 2020 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. On the back of its achievement of all-around increased efficiency in terms of competitive pricing structures, improved turnaround time, and enhanced customer experience, The exchange remains an attractive listing destination as current market conditions favour capital-raising activities across various asset classes.