25 May 2012

Nigeria: NSE - IPO Window to Open for Investors - Onyema

The Chief Executive, Nigerian Stock Exchange, Oscar Onyema, at the Actis roundtable discussion on, New Reform and NSE Listing Guidelines, told a group of business leaders in Lagos that the IPO route would open up for investors again by the end of 2012.

The meeting which sought to provide perspectives on the practicalities and benefits of listing on the exchange also proffers solutions to the current challenges in NSE since 2008.

In addition, Actis West Africa CEO, Ngozi Edozien, said that, in terms of the private equity life cycle, the most important part of the equation comes at the exit, saying further that we must be able to secure value for our investors. "At Actis, we look forward to a time when the NSE becomes an option to do that, in addition to the trade sale route."

Actis Director, Michael Chu'di Ejekam, in his contribution said, there is a recurring theme amongst business leaders that the NSE must better engage with private equity in Nigeria if we are to capitalise on the business growth opportunities of our country - this event was an important step towards that direction, he said.

At the meeting, Onyema did not hesitate to point out among others, the challenge of limited liquidity, poor governance practices and loss of investor confidence have all contributed to the current lack of depth in the capital market since the financial crisis of 2008. But he is optimistic that with the current reforms and guidelines in place, the IPO window should be open for business again by the end of 2012, he said.

The event organised by Actis was an open window where stakeholders interact on business ideas, innovations that can ensure and encourage competitiveness in the Nigerian business environment.

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