Briclinks Africa debuts on Nigerian Stock Exchange

Telecommunications firm Briclinks Africa Friday debuted on the Nigerian Stock Exchange (NSE) as the first company to be quoted on the bourse this year, and the first since BUA Cement listed its shares in January 2020.

The Nigerian Stock Exchange admitted Briclinks Africa Plc to its Growth Board in a listing by introduction of 10 million (10,000,000) ordinary shares of N1.00 each at N6.26 per share on Friday, 5 February 2021.

The listing was commemorated with a digital Closing Gong ceremony where the Chief Executive Officer, Briclinks Africa, 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 N. Onyema, OON stated, "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, Mr. Mohammed Buhari commented, "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".

It would be recalled that in January 2020, NSE launched the Growth Board 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.

February 06, 2021