[business day] In order to address the current problem of the Nigerian capital market, analysts have suggested massive share reconstruction by all companies listed on the Nigerian Stock Exchange (NSE). The analysts from Proshare, InvestIQ (USA), Value Froteira, Meristem Securities Limited and the Share Support Services team in a harmonised position which they put together in the Capital Market Report also canvassed legislation by the Federal Government to compel all GSM companies to get listed on the NSE.
On the other hand, the analysts observed that it will be a positive development if major telecommunications companies should be compelled by regulators to list or/and raise fresh funds for their operations. This is more so as major investments are being made across the continent by operators such as MTN, Zain, Vodafone, Globacom and Etisalat.”
Accordingly, they emphasised that “government needs to pick up the pace to ensure that sectors like telecommunications come to the market to indicate their commitment to the reforms proposed and enhance liquidity in the market”.
Analysts suggest share reconstruction, listing of GSM firms by legislation
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