S’East Industrialists Urged to List on NSE

David-Chyddy Eleke in

Entrepreneurs in the southeastern part of the country have been enjoined to work towards getting their companies quoted on the Nigerian Stock Exchange (NSE) to ensure that they outlive their founders.

Chairman of Cutix Cables Plc, Dr. Okechukwu Mbonu, made the call during the Annual General Meeting (AGM) of the company in Nnewi, Anambra State.

Mbonu, also said there were gains in individuals taking advantage of the opportunities available in the financial market, through purchase of shares.

He said getting listed on the stock market was good for survival and longevity of companies while investing could yield huge financial benefits for the individual.

The chairman said it was unfortunate that not much of the companies in the south-east were listed on the Exchange, saying this was responsible for the low individual investors in shares. “The question is: how many privately owned companies in the south-east are listed on the stock exchange? Not many of them in this part of the country.

“People must begin to understand the benefit and value they can derive from investing in the financial market, that is why you see companies going to money market and individuals investing in stocks.

“The south-west is ahead in terms of investment and share ownership because of number of listed companies there and they know the value, but it is a gradual process.

“We urge you, the media to help us educate people from this part of the country on the immense benefit of not only investing in stock market but also taking your company to the financial market,” he said.

The event witnessed a change of baton in the office of the Chief Executive Officer of the company as Mr Ifeanyi Uzodike, handed over to Barr Mr Ijeoma Oduonye.

The AGM was hugely attended by shareholders of the company, and also witnessed the election of new directors into the company.