Companies that are considered too small to be listed on the stock exchange market but are already quoted on the second-tier security market are expected to meet the following requirements for admission into the second-tier market.
1. The company must have registered as a Public Limited Liability Company under the Companies Act of 1968.
2. The existing shareholders must not be less than 100.
3. No investor will be allowed to have more than 75% of the issued capital, either directly or indirectly.
4. The financial statement of the last three years must be submitted to the Nigerian stock exchange for perusal, verification, and certification.
5. The company’s shares to the tune of 10% or more must be made available to the general public.
6. The company is expected to sign a general undertaking with the stock exchange market.
Responses