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Nairaland Forum / Nairaland / General / Business / Stock Exchange Set To List Its Own Shares (357 Views)
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Stock Exchange Set To List Its Own Shares by Nobody: 11:16am On Jul 17, 2017 |
A bill that has passed a second reading by House of Representatives could pave the way for the Nigerian Stock Exchange (NSE) to issue its own shares. The exchange wants to change its ownership structure from a mutual firm of broker members to one owned by shareholders, in an effort to improve governance and possibly open up new funding sources, including a possible share offer. Members have given the exchange, which is one of the main entry points for foreign funds into Africa, the go-ahead to become a listed company. The bill now passing through parliament would put in place a legal framework that would help it form a board and pay taxes from any profits. The exchange is now governed by a council appointed by members. NSE’s Chief Executive Officer (CEO), Oscar Onyema, told Reuters that he expected the bill to pass this year with the government supporting the listing. SOURCE: https://brandspurng.com/stock-exchange-set-to-list-its-own-shares/
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