NSE admits The Initiatives shares of N756 million into Asem Board

The management of the Nigerian Stock Exchange (NSE) has admitted the share of The Initiatives Plc worth N756.484 million into its daily official list.

The Initiatives Plc today listed 889,981,552 ordinary shares of 50 kobo each at N0.85 kobo per share by introduction on the Alternative Securities Market (ASeM) Board.

The company’s is the first waste management company to be listed on the exchange. The company offers contracting and consultancy services in waste management, industrial cleaning and decontamination to private and public sectors including the oil & gas industry.

Commenting on the listing, Chief Executive Officer of NSE, Mr. Oscar Onyema said, “The admission into market puts the company on a pedestal for growth and sustainability.

He said, “The exchange is committed to helping indigenous companies grow into globally competitive brands whilst facilitating the creation of durable wealth and engendering the sustainability of emerging businesses in Nigeria, through our ASeM Board. The company has successfully passed our stringent listing requirements and I commend their efforts to submit themselves to international best practices in governance”.

Executive Director, Capital Market Division of NSE, Mr. Haruna Jalo-Waziri, said “This listing, will add N756.484 million to the market capitalization of the exchange. But more importantly, it will increase the visibility of The Initiates Plc and differentiate it as one with high corporate governance standards, having met the stringent listing criteria of the NSE.”