IPO window to reopen by year end, says NSE boss

THE Chief Executive of the Nigerian Stock Exchange (NSE) Oscar Onyema, recently, in Lagos, assured capital market stakeholders that the management of the Exchange had concluded plans to review the commencement of initial public offer for willing investors to participate in by the end of December.Stating this at an industry forum in Lagos, Onyema told the gathering of business leaders that IPO route would open up to investors again by the end of 2012.The NSE's boss while delivering a paper titled: 'Roundtable on the New Reform and NSE Listing Guidelines,' said that the reforms being implemented was targeted at addressing the challenges facing the NSE in the current business environment, adding that the capital market sector challenges could be resolved soon.'The challenges facing the NSE are undeniable, problems of limited liquidity, hitherto poor governance practices and loss of investor confidence, have all contributed to the current lack of depth in the market, compounding the lack of market recovery since the financial crisis of 2008. I am confident that with the reforms and guidelines in place, the IPO window should be open for business again by the end of 2012.'Actis West Africa's Chief Executive Officer, Ngozi Edozien said that the capital market needed to rebound so as to boost investing public interest.'In terms of the private equity life cycle, the most important part of the equation comes at the exit: we must be able to secure value for our investors. At Actis, we look forward to a time when the NSE becomes an option to do that, in addition to the trade sale route.
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