Nigerian Stock Exchange and London Bourse signs dual-listing agreement

Nov 21, 2014

The Nigerian Stock Exchange has signed a capital market agreement with the London Stock Exchange to build cooperation.

The Nigerian Stock Exchange has signed a capital market agreement with the London Stock Exchange to build cooperation.

The agreement, set to run for an initial period of two years,
allows local companies greater access to international finance as the agreement offers a window for dual listing on both stock exchanges.

"Today’s agreement is another major step towards our goal of ensuring that all companies that have substantial operations in Africa are accessible to both Nigerian and international investors. In addition, we will be ensuring that our leading companies achieve the global profile and international institutional investment they deserve," NSE’s Chief Executive Officer
Oscar
Onyema said, quoted by Vanguard.

This partnership comes as part of efforts from the Nigeria Stock Exchange to lure international investors, in a context marked by a decline in foreign investment.

A
lower naira against the dollar, falling oil prices on the world market and security risks linked to the 2015 presidential election are all raising investors' concerns, according to Ecofin news agency.

The market capitalisation fell sharply in the third quarter of 2014, down $8 billion (€6.4 billion).ADNFCR-2976-ID-801761558-ADNFCR