Becoming a public company in Nigeria is not that hard as the national bourse has relaxed some of the most challenging conditions. The problem though is if Nigerians will prefer to invest in stocks or play MMM-incarnate or Bitcoin. Sure – the stock market terrified many minds in 2007 and 2008, and many retail investors are scared to return. If they do return, I can say that listing requirements are largely accommodating for some of the startups in the nation. Here are the requirements.
Companies seeking admission to the Official List of the NSE must, in addition to complying with The Exchange’s rules governing listing, comply with the relevant provisions of the Companies and Allied Matters Act 2004, Investment and Securities Act 2007 and the Securities and Exchange Commission rules and regulations, as well as any other relevant statutory requirements.
The NSE Rule Book sets out the requirements for listing on The Nigerian Stock Exchange. The table below provides a summary of the key listing requirements for the NSE’s Main Board and ASeM Board, as well as criteria for a dual listing.