LSE Seeks More Listings from Nigeria, Others

• LSE Seeks More Listings from Nigeria, Others

London Stock Exchange, one of the world’s biggest stock markets, is looking for more listings from African nations.

In the past, African businesses have to make a strong case to have their stock traded on London Stock Exchange, however, that is quickly changing as officials of LSE are on a roadshow in a bid to lure more African companies to LSE.

According to the Director, Emerging markets and International Markets, Ibukun Adebayo, the London Stock Exchange is banking on partnerships with African exchanges, including those in Nigeria and Kenya.

The officials will visit Nairobi, Kenya and Luanda, Angola on this trip after previously visiting South Africa two months ago.

“If a company has an international strategic growth plan, then the LSE is a perfect vehicle for the company to come and list,” Adebayo was quoted as saying on Tuesday in an interview in Nairobi.

He added, “If the company is purely domestic and it needs to raise money in the domestic market and increase the number of investors available to it, then the LSE can help work with local partners.”

He later said LSE doesn’t expect Brexit to really affect operations of the exchange.

“On average, about 40 per cent of the investors in companies listed on the LSE are from the United Kingdom, 30 per cent from the US and nine per cent are European,” he said.

The officials plan future stops in Abidjan, Cairo, Casablanca, according to Adebayo.

He said a final roadshow in New York had been planned to showcase the companies to African investors as part of a United Nations initiative.