NSE Sets N3bn Minimum For Closed Ended Funds

-



The Nigerian Stock Exchange (NSE), on Wednesday published proposed rules for listing of Closed Ended Funds (CEF), setting a minimum size of N3bn.
The units, the NSE proposes, shall be fully paid, free from all lien and freely transferrable, with at least 20 units holders and minimum free float of 15%.
Also, the five biggest unit holders must have no more than 50% cumulative stake, just as the board of the fund shall exclude the employees of the fund manager.
One of the board members shall also be an independent director, while each CEF shall appoint a fund manager and registrar.

https://investdata.com.ng/2018/10/nse-sets-n3bn-minimum-for-closed-ended-funds/#more

Comments

Post a Comment

Popular posts from this blog

Wherever You are NOW is Your Decision

-
Image
                                        Photo credit: entrepreneurfail According to research, very few people are successful at anything at first. I included. The reason only a tiny percentage of the population achieves any significant success or wealth through stock is that few are willing to go through the process of what it takes to achieve in the stock market, and there is no shortcut. In fact, everybody has to go through four levels of learning every single time, and often, in the process - fail, regroup and begin again. Most people blame others like government policies, currency fluctuation, political instability, the election for stopping their progress, but in truth, there's only one person who can put on the parking break and that person is YOU. Furthermore, many people drive around with the break on without knowing it, or once awareness arrives, don't know how to lif...
Read more