Strengthening Nigeria's Capital Market Structure: The Role of "Listing by Introduction"

The article authored by Kayode Toked delves into the significance of "Listing by Introduction" in fortifying Nigeria's capital market structure. It highlights the broader concerns surrounding market liquidity and the necessity to focus on real economic exposure.

The piece argues that the introduction of companies to the public market through this route should not be viewed as a shortcut but rather as a means to bolster market depth. It stresses the importance of aligning incentives, promoting transparency, and encouraging sustained investor participation to foster a robust and liquid capital market.

The article advocates for reforms that prioritize long-term value creation, market discipline, and enhanced disclosure standards to attract domestic institutional investors and ensure a healthy trading environment. It underscores the need for a comprehensive approach to market architecture that prioritizes liquidity, transparency, and investor confidence.