Home > Business > Rand Merchant Bank plans to get more companies listed on Nigerian bourse

Rand Merchant Bank plans to get more companies listed on Nigerian bourse

Rand Merchant Bank Nigeria, the local subsidiary of the South Africa based bank of the same name, says its plan is to help companies looking interested in the Nigerian equities market to get listed on the local bourse.

The bank’s chief executive officer, Michael Laire, appearing with his senior executive team at the Nigerian Stock Exchange (NSE) in Lagos to sound the closing gong, said the bank wants to help companies in just the same way as it is helping mobile technology giant, MTN, in its journey towards listing on the NSE.

Rand Mercant Bank’s executives were at the bourse to sound the gong as the bank turned five years in operation in the Nigerian market, and Labie was bullish about its plans to ramp up activities in the Nigerian capital market.

“Beyond that, we want to help companies that want to list. We are part of the issuing houses for the planned MTN issue and a few others that are in the pipeline. We are collaborating to come out with different products that will trade in the market,” Labie said.

READ ALSO:  Trade fears may extend commodity market desertion

RMB currently trades in the market through its stockbroking arm, Labie said, and commended the efforts of the NSE to deepen the market, especially with the NSE continuous work on several derivatives that would attract more investments to the bourse.

“You may be aware that we have RMB Stockbrokers playing in the market. We do trade in the market. The exchange is busy working on several derivatives products. I think when those products come, they will help to broaden the products that are offered in the market and increase the volume that get traded. Also, the Premium Board that is emphasising good corporate governance will further enhance confidence in the market, which will attract both foreign and domestic investments,” he added.

Reviewing the bank’s five years of operation in Nigeria, Labie said it had been an interesting journey.

“Like any developing economy, it’s got its challenges but you have to appreciate the challenges and navigate your way through. We have navigated some of the challenges and have been able to work with our clients to help them to do and along the way progress in our own business. So in the last five years, I think the journey has been progressive,” he said.

READ ALSO:  Analysts’ sentiment on Gold bearish on June rate hike

Looking ahead, Labie said the bank would do more for its clients and conclude some of the deals that it has in the pipeline.

“So, you can think of us as one of the leading capital market players that have brought issuers to the market and that has also structured fixed income deals. We want to be seen as a trusted merchant bank in the Nigerian market. We want our clients to come to us as an institution that they can trust to help them think through the challenging issues that they have been grappling with,” he said.

The post Rand Merchant Bank plans to get more companies listed on Nigerian bourse appeared first on Businessamlive.

Source:: Businessamlive