By Modupe Gbadeyanka
The strategic capital markets partnership agreement between the Nigerian Stock Exchange (NSE) and the London Stock Exchange Group (LSEG) has been renewed by both parties.
This was done on Thursday at the NSE office in Lagos in the presence of officials of both exchanges.
The agreement was first signed in November 2014 to strengthen cooperation and promote mutual development between the two exchanges and it was originally for two years.
Part of the benefits of the deal was to support companies seeking dual listings in London and Lagos since the agreement came into place, the two exchanges have held three hugely successful NSE/LSEG Dual Listings Conferences aimed at providing global visibility and access to deep capital pools for companies and issuers from both markets.
Commenting on the renewal, the Executive Director, Capital Markets at the NSE, said “The NSE is delighted to renew this agreement with LSEG, as it reflects a successful partnership story.
“Our collaboration with London Stock Exchange is deliberate and strategic. It is geared at encouraging seamless cross-border access between our markets to ultimately develop larger capital markets that enable capital formation for businesses and governments; create deeper liquidity pools and greater competitiveness for investors; as well as enhance capacity and promote diversity of investment products to meet the needs of a wide range of investors and issuers.”
Also commenting on the development, Ibukun Adebayo, Co-head, Emerging Market Strategy, LSEG said, “London Stock Exchange Group is proud of our continued partnership with Nigeria and Lagos.
“This new agreement cements the relationship between our two exchanges. It also demonstrates our commitment to encouraging further dual listings in Lagos and London, and promoting the developments of the Nigerian capital markets infrastructure on a global stage.”
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