Nigerian Stock Exchange
The Nigerian Stock Exchange (NSE ) based in the Nigerian city of Lagos is a securities exchange in Africa. The conducted there stock index is also called NSE and includes 283 shares companies.
History
The Nigerian Stock Exchange was established in 1960. On 10 March 2003, the market capitalization amounted to 875 200 billion ₦. This corresponds to approximately 5.027.000.000 €. Already on 9 March 2007, the market capitalization stood at about 15 Bn. ₦ (about 86.149.000.000 € ).
On 26 July 2007, was listed with the Guaranty Trust Bank plc, the first sub-Saharan bank and first Nigerian public company on the London Stock Exchange and German. The IPO brought $ 750 million a ..
The stock market is a member of the Federation International Bourses de Valeurs ( FIBV ), an observer of the International Organization of Securities Commissions (IOSCO ) and a founding member of the African Stock Exchange Association ( ASEA ).
Trade
The stock market has an automated trading system. Trading days and times, in Lagos, are available from Monday to Friday from 11:00 am bis 13:00 clock. Commissions include a commission of 3% on the total value of shares and securities, as well as 1 % SEC charges a. The tax on dividends is 10%, corporation tax is 35% and the capital gains tax is charged at 10 %.
The government has passed a law to encourage foreign investment. This allows foreign brokers to engage as a dealer on the Nigerian Stock Exchange and foreign investors facilitates investment. This law also made it possible that Nigerian companies can be listed on foreign stock exchanges.