has announced the migration of Chellarams Plc, Living Trust Mortgage Plc, McNichols Plc, and The Initiates Plc from the Alternative Securities Market to the Growth Board.A statement by the NSE said this migration follows the receipt of applications from these companies requesting to be migrated from ASeM, and consequent screening and approval by the National Council of The Exchange.
The NSE Growth Board was launched to assist small and medium scale enterprises and growth-oriented companies looking to raise capital and promote liquidity in the trading of their shares. It offers relaxed entry criteria with less stringent listing requirements making it easier to attract capital flows along with reduced pre and post-listing obligations.
Commenting on the development, the Chief Executive Officer, NSE, Oscar N. Onyema, stated, “This migration affirms the notable efforts of the four companies to meeting corporate governance standards and underpins the robustness of our market.