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Benefits Of Listing Essay

2357 words - 10 pages


You can join any of the following NSE Market segments.
a. Market for issuing shares
1. Main Investments Market Segment (MIMS)
2. Alternative Investments Market Segment (AIMS)
b. Market for issuing bonds
3. Fixed Income Securities Market Segment (FISMS)

These are the listing requirements in the NSE;-
1. Main Investments Market Segment (Mims)
The Minimum Eligibility Conditions and Listing Requirements for the Main Investment Market Segment (MIMS) are:
1. Company to be listed must be a company limited by shares and registered under the Companies Act (Cap 486) as a public limited company.
2. Company must have a minimum authorized, issued and fully ...view middle of the document...

8. At the date of application, the company must not be in breach of any of its loan covenants particularly in regard to the maximum debt capacity.
9. As at the date of the application and for a period of at least 2 years prior to the date of the application, Directors of the issuer must not have:
any petition under bankruptcy laws filed against him/her (for individuals), or any winding-up petition pending or threatened against it (for body corporate);
any criminal proceedings in which he/she was convicted of fraud or any criminal offence, nor be named subject of pending criminal proceeding against him/her (for individuals), or any offence or action either within or outside Kenya (for body corporate);
been the subject of any ruling of a court of competent jurisdiction or any governmental body, that permanently or temporarily prohibits him or her from acting as an investment adviser or as a director or employee or a broker or dealer, director or employee of any financial institution or engaging in any type of business practice or activity.
10 .Company to be listed must have declared positive profits after tax attributable to shareholders in at least three of the last. five completed accounting periods to the date of the offer.
11. Companies wishing to be listed should be solvent and the auditor’s report must be unqualified.
12. Company to be listed must have declared positive profits after tax attributable to shareholders in at least three of the last. five completed accounting periods to the date of the offer.
13. Companies wishing to be listed should be solvent and the auditor’s report must be unqualified.

2. Alternative Investments Market Segment (Aims)
The Minimum Eligibility Conditions and Listing Requirements for the Alternative Investment Market Segment (AIMS) are:
1. Company seeking listing must be incorporated or registered as a public limited company under the Companies Act (Cap 486).
2. Company to be listed must also be a company limited by shares.
3. Company must have a minimum authorized, issued and fully paid up shares of Kshs 20 million and net assets of Kshs 20 million before seeking listing.
4. The shares to be listed must be freely transferable and not subject to any restriction on their marketability or pre-emptive rights.
5. At the date of application, the company must not be in breach of any of its loan covenants particularly in regard to the maximum debt capacity.


6. As at the date of the application and for a period of at least 2 years prior to the date of the application, Directors of the issuer must not have:
any petition under bankruptcy laws filed against him/her (for individuals), or any winding-up petition pending or threatened against it (for body corporate);
any criminal proceedings in which he/she was convicted of fraud or any criminal offence, nor be named subject of pending criminal proceeding against him/her (for individuals), or any offence or...

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