UBA Capital discusses on dual listing for oil, mining firms

UBA Capital Plc has invited officials of three major international stock exchangesthe 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 advantages of dual listing.

This is sequel to 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 service offerings 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 Officer of UBA Capital Plc, Oluwatoyin Sanni, stated that “UBA Capital is delighted at the excellent contributions from our collaborators in this event, our home Exchange the NSE, on which we are proud to be the first listed Investment Banking Group and 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.”

Darko Hajdukovic, Senior Manager, Primary Markets from the LSE, disclosed 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 $239bn.

Also, Tamsin Freemantle, Business Development Manager from the JSE, disclosed that 86 companies listed on the JSE have dual listings. She also disclosed that the JSE has been able to achieve average market liquidity of between 40 per cent and 50 per cent since 2010.