Since the resumption of Mr. Oscar Onyema as the new Chief Executive Officer of the Nigerian Stock Exchange (NSE) last year April, the nation’s bourse has continued to experience several reformation agenda in order to restore investors’ confidence and improve the current low market capitalisation.
The latest of such agenda was the decision of the NSE to review its Listings Rules for companies, to accommodate international standards. And in February this year, the Securities and Exchange Commission, (SEC) capital market regulator, approved the amendments proposed by the NSE to its Listing Rules as part of its new initiatives to achieve targeted goals.
Mr. Onyema, a former Senior Vice President of the American Stock Exchange, said that the NSE decided to review its listings rules because some of the stakeholders complained that the previous listings were inflexible.
He said the Exchange’s main targets for fresh listings were major companies in the Oil and Gas and the Telecommunications sectors of the economy. Mr. Onyema, who has been attending several forums both locally and internationally to further woo potential investors in the market, noted that the Exchange was in active engagements with the Bureau of Public Enterprises (BPE), which is in charge of the privatisation of the power companies, to ensure that the Share Purchase Agreements should have clauses to certify their listing on the Exchange.
He said, “Our new listing requirements have reduced the required track record for a company wanting to list from five to three years, and even below this is permissible, if the company has a core investor with a strong track record,” adding that “the BPE has been advised that an immediate listing (as soon as the sale to core investors is finalised) is now possible under our new listings requirements.”
Mr. Onyema explained further that in the oil and gas sector, the Exchange was also discussing extensively with indigenous upstream companies, adding that it was hopeful of seeing the first listing in this sector in 2012. “These groups of companies were particularly vocal in calling for a change in our listings requirements, and their feedback had been taken on board in the new listing requirements. We believe that the prospect for indigenous upstream companies to list is now higher,” he said.

Read More: http://myfinancialintelligence.com/index.php/2011-09-27-04-13-15/world/16337-nigerian-stock-market-first-quarter-2012-review

you can get links and help on the quarterly and annual reports of nse
www.nairaland.com/1131485/free-nigeria-stock-pick-alert[url]you can get links and help on the quarterly and annual reports of nse
www.nairaland.com/1131485/free-nigeria-stock-pick-alert[/url]you can get links and help on the quarterly and annual reports of nse
www.nairaland.com/1131485/free-nigeria-stock-pick-alert

finintell:

Read More: http://myfinancialintelligence.com/index.php/2011-09-27-04-13-15/world/16337-nigerian-stock-market-first-quarter-2012-review

This is very interesting