UBA Capital Plc, hosted international stock exchanges on dual listing for oil and mining companies.
The company invited the officials of three major international stock exchanges; the Johannesburg Stock Exchange (JSE), the London Stock Exchange (LSE), and the Toronto Stock Exchange (TSX) as well as the Nigerian Stock Exchange (NSE) to come and speak to select companies in the oil & gas sector and mining industry on the requirements and the advantages of dual listing.
This is following the recent highly successful dual listing and $500 million Initial Public offering (IPO) of Seplat Petroleum on the Nigerian Stock Exchange (NSE) and the London Stock Exchange (LSE) respectively. Each invited Exchange highlighted unique product and serviceofferings for companies to raise capital and attract listing. Specific requirements for listings were highlighted as well as details of the different country regulations with the advantages of dual listings fully enumerated.
Speaking at the event, group chief executive UBA Capital Plc, OluwatoyinSanni, stated that, the bank is delighted at the excellent contributions from collaborators in the event. The partners include, Nigerian Stock Exchange (NSE), three leading International Exchanges i.e. LSE, TSX and JSE as well as the international Law firms of Jones Day and Freshfields.
“Today’s event is only one in a series of ongoing initiatives to support the capital raising aspirations of African Issuers whilst simultaneously creating attractive and accessible investment opportunities for investors. We shall continue to partner with credible regional and International Institutions as we pursue our strategic intent to build Africa’s leading integrated financial services group”.
Managing director, Investment Banking at UBA Capital Wale Shonibare,stated that UBA Capital Plc is well-positioned to assist clients achieve their capital raising objectives especially in supporting fast growing mining companies and their oil and gas counterparts to raise the muchneeded equity capital from local and international sources where such capital might be more easily accessible than in Nigeria due to the specialist knowledge and experience of the investor base in those regions.
Senior manager, Primary Markets from the LSE DarkoHajdukovic, said that the LSE has a long experience of listing companies from Africa. The main market of the Exchange currently has 42 listed African companies with total market capitalization of $239 billion.
He observed that the LSE’s experience helps African companies seeking listing to, “de-risk the process and enhance their valuation”. Hajdukovic said that London offers a very cost effective option among major stock exchanges,
