PUBLICLY traded companies will soon be able to tap funds from rich international investors by cross-listing shares on London Stock Exchange, the world's fifth largest bourse by wealth.
The Capital Markets Authority, Nairobi Securities Exchange and LSE on Friday hosted corporate finance consultants, legal experts and listed companies to a closed-door meeting to discuss opportunities in dual listing.
Besides opportunities, the seminar discussed modalities to accelerate cross-listing of company stocks in London and Nairobi in the latest push by the market authorities and players in both cities to position Nairobi as Africa's financial hub by the year 2023.
The envisioned Nairobi Financial Centre will be able to play in the league of leading financial gateways like Johannesburg, London, New York, Tokyo, Zurich and Dubai.
“Free flow of capital within the region and the emergence of East Africa as an integrated investment destination are key foundations for Nairobi achieving its aspirations as an International Financial Centre,” CMA acting chief executive Paul Muthaura said.
“Dual listing creates an undoubted opportunity through which investors can seamlessly invest their funds across our borders, facilitate the diversification of portfolios, broaden the capital base available to issuers, and unlock the age old conundrum of liquidity.”
- See more at: http://www.the-star.co.ke/news/local-firms-tap-london-bourse
