NASD Registers Morgan Capital, FCSL as Due Diligence Advisers

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange has announced the registration of Morgan Capital Group and FCSL Asset Management Limited to its NASD Enterprise Portal as Due Diligence Advisers (DDAs). The partnership is a great step that will facilitate funding for the real sector in Nigeria, Business Post gathered.

According to the exchange, this development would help to ensure that enterprises on the NASD Enterprise Portal (NASDep) are well represented in their bid to access private equity investments.

“NASDeP DDAs play a critical role in providing guidance and packaging these enterprises in an attractive manner for investors,” the exchange said in a statement.

The bourse stated that it would continue to accept other eligible DDAs as long as they are registered by the Securities and Exchange Commission (SEC), noting that they could be Accountants, Legal Practitioners, and Issuing Houses.

Morgan Capital is an Investment Banking, Securities Trading, real estate and Principal Investments Firm, with is licensed by the SEC and the Nigerian Stock Exchange (NSE).

It provides a comprehensive range of investment banking and financial advisory services to private, public sector, corporate, and institutional clients.

Also, FCSL Asset Management Limited is one of the leading financial institutions providing investment banking, financial advisory, securities brokerage, investment management, market research, share registration services and human capital development to both retail and institutional investors in Nigeria.

Meanwhile, transactions closed positive on the trading platform of the NASD Exchange last week. At the close of the trading week, market capitalisation at the NASD Exchange increased to N513.12 billion from the previous week’s N504.17 billion, indicating a 1.77 percent growth in the value of securities transacted at the OTC market.

In the same vein, the NASD Unlisted Security Index (NSI) improved by 1.77 percent to 714.21 points as at the close of business on November 15, 2019 from 701.76 points in the previous week.