CompanieS seeking to list on the Namibia Securities Exchange must work through an approved Namibian sponsor, submit the required documentation and obtain the necessary approvals before publicly announcing their intention to list.
Listing on the Namibia Securities Exchange (NSX) requires companies to follow a formal application process, with the exchange assessing the documentation before an application can proceed for approval.
The NSX states that all applications must be submitted through a Namibian sponsor. These sponsors guide companies through the different stages of the listing process and advise them on the applicable requirements. The first step is to engage an approved sponsor to help prepare the application and identify the documents that must be submitted.
According to the NSX, companies must submit the required documentation together with copies of the application and any additional information specified in the exchange’s listing checklists.
The exchange reviews the documents to determine whether they are complete and satisfactory. Once this process has been completed, the application is submitted to the listing committee for consideration.
The NSX says after the documentation has been finalised, the chairperson of the listing committee is notified so that a meeting can be convened. If the listing committee approves the application, it is submitted to the NSX board for final approval in the case of a primary listing.
Restrictions on public announcements
Companies must also observe restrictions on publicity while their applications are being considered.
The NSX says a company may announce its intention to list, issue invitations or make related public communications only after final approval has been granted by the executive committee.
“No publicity may be released before such approval is obtained,” it says. However, a company may state that it has submitted an application once the NSX has received a complete application.
This means that submitting an application does not, by itself, mean that a company has been approved to list.
Where to get help
Companies interested in listing can contact the NSX. A list of approved sponsors is available at https://nsx.com.na/listing/sponsors/
The NSX advises prospective applicants to work with these sponsors throughout the listing procedure to understand the requirements and prepare the necessary documentation.
The time needed to complete a listing depends on the application and the process of satisfying the applicable requirements and obtaining the necessary approvals.
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