The passing into law of the Nigerian Stock Exchange’s (NSE) demutualisation bill is expected to bring the Nigerian capital market at par with other international jurisdictions say analysts at United Capital.
According to them, this will result in enhanced governance, transparency, and visibility while attracting strategic partners, investors, and good quality issuers.
They also noted that the final demutualisation of the exchange is expected to buoy investor confidence and attract foreign investors.
Muhammadu Buhari, Nigeria’s president had last week signed the demutualization bill into law.
With the action, a legal framework for demutualising the NSE from a mutual association of exchange members, limited by guarantee, to a limited liability company, accountable to shareholders was provided.
“In our opinion, the NSE as a demutualised entity which is profit-oriented will be in a better position to capitalize on new income opportunities, free from any limitations arising from conflicting member interests, existing laws and more importantly, be able to better support the economic growth of Nigeria,” United Capital analysts further reiterated.
‘Ramadan rush’ brings Gulf retailers to Europe
Nigeria’s equity market maintains bullish run, all-share index up 0.59%
Nigerian Stock Exchange calls for registration, announces dates for 2018 ASEA conference
Nigerian currency trades flat on the streets, appreciate marginally at IEW
SEC shuts down another illegal fund management firm in Lagos
Cadbury appoints first female MD after 50 years
Negative trend persist as stocks plummet 1.6%
Bourse clarifies concerns over MTN listing in Nigeria
Prices of selected food stuff increased in April — NBS
Alibaba plans bumper $20 billion HK listing to boost investment war chest: sources