Privatized enterprises to be listed by BPE on capital market

Mr Alex Okoh, the Director-General, Bureau of Public Enterprises (BPE) says the structure of reforms being carried out by the organisation is targetted at listing of privatised enterprises as the final outcome.

 

Okoh said this in a statement issued by the  Head, Public Communications, Mr Chukwumah Nwokoh  in Abuja.

 

Okoh said this during a meeting with members of the technical committee on attraction of new listings to the capital market.

 

Okoh pledged strong collaboration with the capital market to help strengthen  the market.

 

“We will collaborate in reviewing what the conditions are and try to make it right for the listings.”

 

He, however, raised concerns about the stability of the market and prospects of getting good value should the privatised entities be listed.

 

“We will collaborate with you in establishing the conditions that reduces the nerves of the core investors.”

 

He explained that there was a period of assessment of privatised entities during which the BPE examines the conditions of listing.

 

Okoh urged the committee to adopt a holistic approach  in carrying out their assignment.

 

The statement also quoted Chairman of the committee, Mr Jallo Waziri, an Executive Director at the Nigeria Stock Exchange (NSE) as saying ” the exchange was engaging trade groups, regulators and quasi-regulators to actualise their mandate.”

 

He noted that apart from creating efficiency, privatisation was a catalyst for economic growth,  adding that it also induces inclusiveness in the populace.

 

Waziri said that privatisation also increases the velocity of the capital market, adding that there was capacity in the primary market and depth in the market that was yet to be explored.

NAN/Ime N