a Broker/Dealer admitted by the National Association of Securities Dealers Plc (NASD), has set in motion plans to grow its NASD OTC portfolio. The firm is calling on existing clients to come forward with their share certificates for dematerialisation.
According to Managing Director of ASL, Charles Egbunonwo, “with our over 15 years membership of the NSE, we are well positioned to support our clients’ understanding of the workings and intricacies of the NASD-OTC trading platform. We have knowledgeable professionals with deep insight of the market and we are able to execute our clients’ trades effectively under the platform.”
Through the platform, ASL is seeking to create liquidity for investors of some public companies that are not listed on the NSE by trading their shares on the platform with transparency and safety, and without price restrictions.
“We have started reaching out to our customers to take advantage of the unique opportunities that the NASD OTC platform provides and submit their share certificates for dematerialisation,” Egbunonwo said.
Shares of companies that can currently be traded on the NASD platform include Friesland Campina WAMCO Nigeria Plc, Niger Delta Exploration and Production Plc, Food Concepts Plc, Industrial and General Insurance Plc, Consolidated Breweries Plc and Geofluids Plc, SWAP Technology Telecomms Plc and BGL Plc.
Others are Trustbond Mortgage Bank Plc, Central Securities Clearing System (CSCS) Plc, Riggs Ventures West African Plc, Afriland Properties Plc, Arm Life Plc (Crystalife Plc), Partnership Investment Company Plc, Resourcery Plc and Jaiz Bank Plc.
Inaugurated in July 2013, NASD is registered by the Securities & Exchange Commission as a Self-Regulatory Organisation (SRO) to deepen the volume of Capital Market transactions in Nigeria. The platform allows trading of a broad range of instruments over-the-counter, including bonds and securities not listed on the Nigerian Stock Exchange.
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