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SS3: COMMERCE - 2ND TERM

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S/NFirst-tier marketSecond Tier Market
1Created to buy and sell new shares of
companies.
Created to buy and sell new Shares of old companies.
2The company must be in operation in for not less than 5 yearsThe company must be in trading for not less than 5 years
3The Financial Account should be published quarterly, half-yearly, and annuallyThe Financial Account is to be published bi-annually and yearly
4They pay an annual fee which is very high and varies according to the share capitalThe annual fee paid is Fixed
5The issued shares to the tune of 25% of the whole capital must be made available to the general publicThe 10% of the whole capital released as the issued shares must be made available to the public
6The shareholders’ must not be less than five hundred (500) in number.The share holders must not be less than hundred (100)

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