NASD Mulls Fresh Capital To Strengthen Over-the-counter Market

NASD Plc, the over-the-counter, OTC, market for trading of shares and other securities of unquoted public companies, is considering raising new capital to boost its operations as the list of companies on its platform continues to expand.

Chairman of NASD Plc, Olutola Mobolurin, who spoke on the outlook for the company, said it may need to raise additional capital in 2016 to help bridge its financial gap.

He said: “We hope we can count on the enthusiastic support of the current shareholders.”

He noted that with the uncertainties in the economy and capital market, NASD is optimistic that its trading platform will attract new securities in 2016 and a rebound in the economy.

“We also expect that with innovation and focus, your company will be able to profitably expand horizons and improve profitability. We expect that the company, having put in place the necessary structure and prepared itself to diversify asset classes and products on its platform, will achieve this feat,” Mobolurin said.