London Stock Exchange scouts for potential African listings

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The Director of Emerging Markets and International Markets at the London Stock Exchange (LSE), Ibukun Adebayo disclosed that the LSE is on the road scouting for potential new listings from African countries, including Nigeria.

The move is a deviation from the very rigorous process the LSE would normally require any African company to go through just to get listed. However, the LSE has chosen to take a different approach, as some of its officials are on a roadshow across Africa with the intention of boosting the LSE’s 115 African listings, a move said to be an initiative of the United Nations.

The LSE officials are slated to visit cities such as Nairobi in Kenya and Luanda in Angola. They also plan to visit Abidjan, Caira, and Casablanca. A final roadshow in New York is planned to showcase the companies to African investors.

Adebayo said “if a company has an international strategic growth plan, then the LSE is a perfect vehicle for the company to come and list. 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”.

Recently, the LSE has been paying special attention to companies in Africa. Earlier this year, 360 corporate entities were named as the companies to inspire Africa. The report titled ‘Companies to Inspire Africa 2019’ was compiled after a painstaking survey process which saw a total of 5,000 nominated companies whittled down to 360.

The aim of the report was to identify the most inspirational, dynamic, privately owned high-growth companies investing in the real sector of the economy and African continent that are making significant socio-economic impacts by creating substantial numbers of jobs and have the potential to be publicly listed within the next few years.

The LSE, which was found in 1571, had a market capitalisation of $4.59 trillion as of April 2018.


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