Nigerian Bourse to Expand Ownership, May Sell Shares
The Nigerian Stock Exchange plans to expand its ownership including selling its shares to the public, Chief Executive Officer Oscar Onyema said.
The framework for the changes in the ownership structure to bring in local and foreign investors will be released this year, Onyema said today at a conference in Lagos, the commercial capital. “We expect that to bring improvements in funding, technology and market competitiveness.”
The exchange wants to achieve a target of $1 trillion market capitalization by 2016, he said. Its market capitalization rose by 44 percent to 14.8 trillion naira ($94 billion) in 2012, according to Onyema.
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