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SEC Uduk

SEC coming with measure to incentivise issuers at stock market

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As part of drive to deepen entrance to the nation’s capital market, the supervising Securities and Exchange Commission (SEC) has unveiled plans to streamline the entire issuing process so as to make entrance flexible for fund seekers at the Exchange.

Before now, the Acting Director-General of SEC, Ms. Mary Uduk, has worked on cost reduction strategy for primary equity and fixed income issues implemented by the commission last year. Explaining more on how she intends to reposition the market for further investment attraction, Uduk noted at the commission’s second post-Capital Market Committee (CMC), in Lagos that the measure is to fast-track the entire process of raising bonds and equities in the capital market and make issuing process more attractive to investors.

“After assessing the impact of the cost reduction implemented on primary issues, the commission deemed it necessary to streamline the entire issuing process in the market to woo more issuers to the market to raise funds.

“We are almost through with the report. We looked at the entire value chain and we are working with the NSE to ensure that documents filed with the exchange are not requested for a second filling at the SEC.

Uduk said she drew inspiration from an impact assessment made on the cost reduction for primary equity and fixed income issues last year which has energized the market by attracting more investing players.

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