Nigerian Stock Exchange To Conclude Demutualisation This Year ~Onyema

The Nigerian Stock Exchange is the process of completing its demutualisation and become a publicly listed this year, its chief executive has said.

“We are shooting for this year for the demutualisation to be completed,” NSE chief executive Oscar Onyema said.
The exchange is the second-biggest in sub-Saharan Africa after Johannesburg, and a key conduit for investors looking for opportunities in Africa.
The listing process, known as demutualisation, has been in the works for years and required a law, signed by the president last year, in order to move forward.
According to Onyema, a public listing for the NSE would allow it to fully “modernise”, but that the practicalities were still being worked out.
“The decision hasn’t been made yet whether that capital raising will be an IPO or some other type of other form of capital raising,” he said.
Once demutualisation was completed, he said, the exchange would “give a very clear signal to the market on how we intend to proceed with that liquidity”.