Newrest ASL Nigeria Joins NASD Exchange After NSE Exit
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange has admitted the securities of Newrest ASL Nigeria Plc on its trading platform.
NASD OTC Securities Exchange welcomed Newrest ASL Nigeria Plc to its trading platform as the 40th member to boost the unlisted securities’ market capitalisation and index.
Newrest ASL was introduced to the exchange by APT Securities Limited on Thursday, June 11 2020 via security admission. It will operate under the symbol, SDNEWREST.
In a statement, the bourse noted that, “Shareholders of Newrest ASL Nigeria PLC are therefore informed that their shares are admitted and eligible to trade on the NASD OTC Exchange.
“On behalf of the Board and entire staff of NASD Plc, we congratulate NEWREST ASL on the accomplishment of this milestone.”
However, the information on how much is the company’s share price has not been disclosed.
Newrest ASL Nigeria Plc provides catering and related services. The company operates an inflight catering facilities, lounges, and restaurants. Newrest ASL serves the aviation industry operating in Nigeria.
Before now, the company used to trade its shares on the Nigerian Stock Exchange (NSE).
NASD OTC Securities Exchange closed the 24th week of trading with a negative return in NSI. The NSI return fell by 1.43 percent to close the week at 682.49 points against 692.38 points in the preceding Friday, June 5 2020.
In addition, NASD OTC market capitalization closed at N501.34 billion compared to N508.60 billion in the preceding Friday, resulting from a negative movement of prices.
The exchange will hold no trade today because of the June 12 Democracy Day holiday declared by the federal government.