(Photo: L-R: Haruna Jalo-Waziri, NSE ED, Business Development; Oscar Onyema, CEO NSE; Basil Moftah, MD Middle East, Africa & Russia, Thomson Reuters; Adeolu Bajomo, NSE ED, Market Operations Technology, at the ceremony in commemoration of Thomson Reuters partnership with the Stock Exchange.)
The Nigerian Stock Exchange (NSE) has signed a Memorandum of Understanding (MoU) with Thomson Reuters, the world’s leading source of intelligent information for businesses and professionals, to provide Investor Relations (IR) services to its listed companies, as part of its Value Added Services (X-Value) bouquet.
The NSE launched its X-Value offering on November 30, 2012 as a key element of its business development efforts aimed at attracting new listings, creating a competitive edge for listed companies and retaining current listings. The initiative is also expected to improve investors’ interest in the market through enhanced information and assist listed companies in complying with post listing obligations.
Taba Peterside, the Head of NSE’s Listings Sales and Retention, had revealed at the unveiling of the X-Value offering last year that The Exchange would partner with various local and international organisations to provide services such as: Corporate Access, Investor Relations, Institutional Services Offering, Corporate Governance and Independent Equity Research to enhance the value proposition of listing on the Exchange.
Other Benefits of X-Value
Mrs Peterside said the Investor Relations Service is designed to enhance investors’ understanding of a company’s strategic direction and encourage informed analysis on a company’s performance through the provision of timely, appropriate and accurate information. She further explained that it could help in lowering the cost of accessing global capital markets as well as improve a company’s market reputation and visibility.
With this initiative, global best-practice investor relation solutions from Thomson Reuters will be available to the NSE’s listed companies. Thomson ONE Investor Relations will help companies manage their IR program workflow, including monitoring market activity, understanding investor behaviour and managing investor outreach. Thomson Reuters IR Websites will ensure companies are delivering a high standard of disclosure, providing investors with quality and professional investment information.
Keith Nichols, Managing Director, Africa, Thomson Reuters, said, “We are delighted to roll out this IR project with the NSE. Thomson Reuters provides integrated solutions across the investor relations workflow and we look forward to help NSE’s companies comply with the regulatory requirements and effectively communicate with institutional and retail investors.”
The Executive Director Business Development Division of the NSE, HarunaJalo-Waziriurged, advised listed companies to take advantage of this first rate investor relations package to improve their visibility to the local and international investor community.