In a bid to reposition its service, Briclinks Africa Plc, a fast-rising telecommunications operator and Internet Service Provider (ISP) recently listed its shares on the Nigerian Stock Exchange (NSE) Growth Board. It was by way of introduction of 10 million (10,000,000) ordinary shares of N1.00 each at N6.26 per share.
The NSE Growth Board was unveiled in January 2020 with the aim to encourage companies with high growth potentials to seize the opportunity of raising long-term capital and to promote liquidity in the trading of their shares. It allows for greater accessibility to capital flows, global visibility and credibility through corporate disclosures.
At the virtual event, Chief Executive Officer, Briclinks Africa Plc, Mr. Mohammed Buhari said “This is a testimony to the fact that dreams do really come true. We have through this process emerged as a better entity, well-tuned to corporate best practices and culture.”
Buhari stressed that listing on the Stock Exchange will avail the opportunity to build not just a company but an institution forged in the furnace of integrity and excellence. As we set our sail to become a force on a regional scale, being on the Exchange is a testimony of strength, sustainability and worthy service, he noted.
Also speaking at the ceremony, the Chief Executive Officer, NSE, Mr. Oscar N. Onyema, OON stated “We are delighted to welcome Briclinks Africa Plc to The Exchange. This listing is a milestone in our desire to accommodate Small and Medium-sized Enterprises (SMEs), that hitherto have been underrepresented in public markets.”
Till date, the Nigeria Stock Exchange all share index has continued to appreciate with a performance of 3.76% following the 50.03% return in 2020. The expected improvement in economic activities coupled with the resilience of the NSE, supports the narrative for corporate and governments making foray into the public market, said Onyema.
Doyen of Stockbrokers, Alhaji Rasheed Yussuf, congratulated and welcomed Briclinks Africa Plc with the promise to support the management while making the listing a successful one.
SMEs remain the engine of growth for the Nigerian economy and according to the National Bureau of Statistics (NBS), in the last five years, SMEs have contributed about 48% of the Gross Domestic Product (GDP). With a total number of over 41.5 million enterprises, this segment of the economy also accounts for 96 per cent of operational businesses and 84 per cent of employment.
Briclinks Africa Plc commenced business as a telecommunications company is 2018 after it was issued an Internet Service Provider (ISP) license by the Nigerian Communications Commission (NCC). The company’s core values are Integrity, Service, Quality, Sustainability and Speed.