The Nigerian Stock Exchange (NGSE) has signed a Memorandum of Understanding (MoU) with Thomson Reuters, one of the world's leading sources of intelligent information for businesses and professionals, to provide Investor Relations Services to its listed companies, as part of its Value Added Services (X-Value) bouquet.
The NGSE 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.
At the unveiling of the X-Value, Head of Listings, Sales and Retention, Mrs. Taba Peterside, said 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.
According to her, the Investor Relations Service is designed to enhance investor 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 on investor relations solutions from Thomson Reuters will be available to the NGSE's listed companies. Thomson ONE Investor Relations will help companies manage their IR programme 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," she said.
The managing director, Africa, Thomson Reuters, Keith Nichols, said, "We are delighted to roll out this IR project with the NGSE. Thomson Reuters provides integrated solutions across the investor relations workflow and we look forward to help NGSE's companies comply with the regulatory requirements and effectively communicate with institutional and retail investors."
The executive director, Business Development Division of the NGSE, Mr. Haruna Jalo-Waziri, urged listed companies to take advantage of this first rate investor relations package to improve their visibility to the local and international investor community.