VENTURES AFRICA – The Nigerian Stock Exchange (NSE) on Wednesday inaugurated the Alternative Securities Market (ASEM), which is a platform for small businesses and SMEs in Nigeria to trade their equities on the NSE.
The Small Businesses and Mid-Cap’s will be listed on the trading board of the NSE giving them opportunity to access the capital market for equity funding.
Unlike equities on the main board of the NSE, companies who intend to list on the ASEM will not need the kind of stringent requirements that is fulfilled by the former.
The NSE has in the past had the Second Tier Securities Exchange Market, which had largely failed to attract investor money.
The reasoning now is that the success of the ASEM will depend on transparency of information and standardized financial reporting for the companies listed. That way, investors can bride any asymmetry in information and utilize financial statements to form better investment opinions.
The companies currently listed on the ASEM include Adswitch plc, Afrik Pharmaceuticals plc, Anino International plc, Capital Oil plc, Juli plc, McNichols Consolidated plc, Rak Unity Petroleum plc, Rokana Industries plc, Smart Products Nigeria plc, Union Venture & Petroleum plc, and West Africa Aluminum Products plc.
Oyeniyi Adegoke is a staff writer for Ventures Africa and a business writer with passion for entrepreneurship and disadvantaged kids. He studied Mathematics and Statistics at the University of Lagos whilst co-building an indigenous social platform, ovaloaded.com, before it was bought over. Goke has published an e-book -- X the Box, managed the publishing of a national agricultural magazine and written several business plans and published articles. 
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