The rule, which is on the Commission’s website, also states that all units/securities subject to registration may be offered through the following methods: offer for subscription; offer for sale; and units/securities of a collective investment scheme may be registered by way of a shelf registration.
Other provisions are that a shelf prospectus shall be subject to renewal every three years from the date of its issue. A shelf prospectus shall— comply with the general form and contents of a prospectus as set out in these rules and regulations; and state that the Shelf Prospectus has been registered by the Commission.
Meanwhile, efforts by the NSE to attract SMEs to the Exchange yielded reasonable results with the listing by introduction of 10 million ordinary shares of ₦1.00 each at ₦6.26 per share in the name of Briclinks Africa Plc on the Growth Board. This listing is a milestone in our desire to accommodate small and medium-sized enterprises that hitherto have been underrepresented in public markets. It is indeed a critical step in the NSE’s efforts towards greater representation of growth companies on the bourse.