DELOITTE Nigeria has organised an Initial Public Offer, IPO, Masterclass designed to enlighten senior executives of private companies on key matters to consider in advance of a listing via an IPO either on the Nigerian or London Stock Exchange, or a dual listing on both exchanges.
The session addressed the main advantages of being a listed business, together with the hurdles and key management challenges of the listing process.
In attendance were specialists from Deloitte’s Equity Capital Markets team in London and Lagos, along with guest speakers from the Nigerian Stock Exchange, NSE, and London Stock Exchange, LSE, Standard Bank, White and Case as well as the Nigerian Securities and Exchange Commission, SEC.
In his welcome address, Temitope Odukoya, Partner and West Africa Financial Advisory Leader for Deloitte, gave an overview of the Nigerian economy with highlights on key performance indicators including foreign portfolio investments, foreign direct investments, the all share index, Business Confidence Index and Consumer Confidence Index amongst others.
Simon Olsen, Partner, Equity Capital Markets, Deloitte UK, in his presentation stated that there are over 112 African companies listed or trading on the LSE (more than any other international bourse), with a total market capitalization of over US$166 billion. He noted that in the last 10 years, these companies have raised more than $22 billion in equity capital.
According to Gokul Mani, Head, Primary Markets (Middle East, Africa & India) of the London Stock Exchange Group, some of the benefits of listing on the LSE includes access to the deepest pool of international capital in the world, a reach to a broad and stable investor base and world-class market surveillance.
Chris Godman, Head, ECM International, Standard Bank, spoke on key market and IPO considerations, including insight into how to raise new funding in both London and Lagos.