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Thursday , 26 April 2018

Zenith bank remains valuable as pioneer on Premium Board

Zenith International Bank Plc was migrated to the Premium Board in 2015,alongside Dangote Cement Plc, and FBN Holdings Plc.They were pioneers on the list..and even now Zenith is still rated high,to have remain on the list of the highly courteous list for the best. ,

To be listed on the Premium Board of the NSE, the aspiring companies must attain a minimum market capitalisation of N200bn as at the date of application.

The NSE Premium Board and the associated Premium Board Index were launched on August 25, 2015.

Also, premium board’s companies must also score at least 70 per cent on the Exchange and the Convention for Business Integrity’s Corporate Governance Rating System (CGRS). Besides, the companies must have a minimum free float of 20 per cent or value of shares floated must be equal to or above $1 billion and the number of shares representing its issued share capital must be equal to or above 10 billion units.

The companies are expected to meet stringent corporate governance, capitalisation and liquidity conditions.

To remain on the premium board, a company’s continued eligibility shall be evaluated by the Exchange annually in line with all the outlined criteria or on the basis of additional requirements which may from time to time be prescribed by the Exchange, provided that each company shall comply with all other continuing listing obligations as specified under the listings rules of the Exchange.

The board gives a company access to a global pool of investors who are focused on companies managed in conformity to the highest standards in their target markets

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