Nigerian Stock Exchange
| Nigerian Stock Exchange | |
|---|---|
| legal form | |
| founding | 1960 |
| Seat | Lagos , Nigeria |
| management | Okereke Onyiuke |
| Website | www.nigerianstockexchange.com |
The Nigerian Stock Exchange (NSE) , based in the Nigerian city of Lagos, is a securities trading center in Africa . The stock index listed there is also called NSE and comprises 283 public companies .
history
The Nigerian Stock Exchange was founded in 1960. On March 10, 2003 , the company's market capitalization was ₦ 875,200 billion . This corresponds to around € 5,027,000,000. On March 9, 2007, the market capitalization was around 15 Bn. ₦ (approx. € 86,149,000,000).
On July 26, 2007, Guaranty Trust Bank plc, the first sub-Saharan bank and first Nigerian public company, was listed on the London and German stock exchanges . The initial public offering raised $ 750 million.
The exchange is a member of the Federation International Bourses de Valeurs (FIBV), an observer of the International Organization of Securities Commissions (IOSCO) and a founding member of the African Exchange Association (ASEA).
trade
The exchange has an automated trading system. Trading days and times in Lagos are Monday through Friday, 11:00 AM to 1:00 PM. Brokerage fees include a commission of 3% on the total value of shares and securities, as well as 1% SEC charges a. The control on dividends is 10% corporation is 35% and the withholding tax is calculated at 10%.
The government has passed a law to encourage foreign investment. This has enabled foreign brokers to become traders on the Nigerian stock exchange and made it easier for foreign investors to invest . This law also made it possible for Nigerian companies to be listed on foreign stock exchanges.
Web links
swell
- ↑ forbes.com: " Nigeria's Guaranty Trust Bank to raise 750 mln usd from London listing" (September 11, 2007)