Nigeria: Why Full Return of IPOs May Take Three Years - SEC

There are strong indications that the full return of Initial Public Offers (IPOs) to the Nigerian equity market may wait till the next three years because of technicalities involved in floating new issues.

The Director-General of the Securities and Exchange Commission (SEC), Ms. Arunma Oteh, who gave the hint during the 2013 first quarter Capital Market Committee (CMC) meeting held in Lagos said that the transition to International Financial Reporting Standard, internal issues in the companies desiring to raise new issues, were among the key reasons that may delay the full return of primary market during the current financial year.

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