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HomeNewsPan African investment firm boosts NASD trading platform on Nigerian bourse

Pan African investment firm boosts NASD trading platform on Nigerian bourse

The Pan African Investment Company, Heirs Holdings, has taken a strategic stake in the new National Association of Securities Dealers (NASD) trading platform which commences operations 1 July 2013 on the floor of Nigerian Stock Exchange (NSE), the company said.

PANA reports that NASD is an alternative trading platform created by the Association to bring more liquidity to Nigeria’s capital markets.

It has been licenced by the regulatory Securities Exchange Commission (SEC) to trade a broad range of instruments over the counter, including unlisted equities and bonds, in Nigeria .

NASD will join the NSE, as well as the recently-created Alternative Securities Market (ASEM) designed for unlisted stocks and fast-growing Small and Mediun Enterprises(SME’s) to bring more choice and transparency to thousands of companies looking to trade their shares on an open, regulated market.

“The NASD offers investors an alternative way of accessing capital for growth in an efficient manner. We have invested in the platform because Heirs Holdings is committed to financing projects that contribute strategically to the growth of entrepreneurs across Africa,” company Chairman Tony Elumelu said in the statement.

The NASD investment is the latest addition to Heirs Holdings’ financial services investment portfolio, which includes the Pan African United Bank for Africa(UBA); UBA Capital, the group’s listed investment banking and asset management arm; Africa Prudential Registrars Plc, the only listed share registrar company in Nigeria; and Heirs Insurance Brokers.

The company also has investments in the oil and gas, power, real estate, hospitality, agribusiness and healthcare sectors through a growing number of investee companies in which it takes a significant shareholding.

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