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The Nigerian Stock Exchange (NSE) is on the verge of completing demutualisation. Demutualisation is the process of changing the structure of an exchange from a mutually owned not for profit firm, to a profit-making one.
When completed, the exchange can raise capital either through an Initial Public Offer (IPO) or other mechanisms to fund the exchange and provide liquidity.
In summary, this will lead to separating ownership from the right to access trading on the exchange and earn a profit. Chief Executive Officer of the NSE, Oscar Onyema explained the process adding that although the process has taken some years, with Nigerian President, Muhammadu Buhari’s approval, it could happen this year. The final agreement between the mutual shareholders is expected very soon.
