SEC Issues Exposure Of New Rule On Registration Of Fixed Income Existing Securities

Monday, September 30, 2019 / 05:32PM / By SEC Nigeria/ Header Image Credits: blog.ceb.com

The following fee structure shall apply to the registration of existing fixed income securities (including dual listings)

Fee Structure

First N500 Million @ 0.015%

Next N500 Million @ 0.0113%

Balance above N1 Billion @ 0.0075%

Total fees payable subject to a maximum cap of N100 Million

Justification

To provide clarity on applicable fees on registration of existing fixed income securities for domestic issuers and registration of issued fixed income securities for Issuers that intend to dual list. The introduction of a cap serves as an incentive to attract big ticket issues for listing in the Nigerian market

All comments and input should be forwarded by e-mail to the Secretariat, Rules Committee of the Commission, at rulescommittee@sec.gov.ng or by letter addressed to the Director-General, SEC, not later than two (2) weeks from date of publication.

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