14 Mar SEC authorises NGX to Charge 0.0375% on Fixed Income Primary Issuance
The Securities and Exchange Commission (SEC) has approved the commencement of applying of 0.0375 per cent fees on corporate bonds of issuers with an existing equity by the Nigerian Exchange Limited (NGX).
A notification by the Chief Executive Officer, NGX regulation Limited, Tinuade Awe said, “Further to the Additions to the Rules of the SEC on fixed income primary issuance fees which stipulated a new pricing structure effective November, 22,2017, notice is hereby given that, NGX has received the approval of the Commission to introduce fees for non-exclusive fixed income listings on The Exchange, which have become effective.”
She added that in light of the foregoing, as from the March 10, 2022, the relevant fees for fixed income primary issuance on the Exchange are: “ 0.0375 per cent of offer size fees on corporate bonds of issuers without listed equity and 0per cent of offer size fees on exclusive listing on corporate bonds of issuers with existing listed equity listed on the Exchange.”
Other fees unchanged by SEC is 0.05 per cent of offer size on states and Supra-nationals.
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