Nigerian Stock Exchange Proposes Tougher Rules For Large-volume Trades

Africa Business News

The Nigerian Exchange Limited has proposed new rules on block divestment and large-volume trades. Market stakeholders were invited to share their feedback on the proposed rules in a notice to trading licence holders to amend Trading Licence Holders Rules (Part XIIIA) on Block Divestments and large-volume trades. The Chief Executive Officer of the NGX Regulation Limited, Olufemi Shobanjo, says the proposed change includes that trade shall be treated as a block divestment where it involves: a) a transfer of shares amounting to five per cent, which used to be 30 per cent.
Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support.