NSE-Web-Prospectus-2014

Recommendations

Info

Section 8Nairobi Securities Exchange LimitedThe following is selected information on the profile of the NSE, its Board of Directors, senior management and other aspects of operations:8.1 Base ProfileTable 8.1-Base ProfileNo Item Details1 Exchange operations 1920s but formally from 19542 Membership • Founding Member of the African Securities Exchanges Association• Founding Member of the East African Securities Exchanges Association• Associate Member of the Association of Futures Markets• Associate Member of World Federation of Exchanges3 Time Zone Greenwich Mean Time + 3 Nairobi4 Address The EXchange, 55 Westlands Road, PO Box 43633-00100, Tel: 254-20-2831000- Nairobi5 Website www.nse.co.ke6 Trading Days Monday, Tuesday, Wednesday, Thursday, Friday7 Trading Automated Trading System8 Trading Access Wide Area Network and Local Area Network (Backup)9 Access Rights Trading Participants10 Trading Hours9:00 a.m. to 3:00 p.m.a) During ‘pre-open’ the system accepts orders (permitted orders). Orders may be amended or cancelled during pre-open.However, no executions take place at this stage.b) During ‘open-auction’, the system temporarily closes the order book and starts matching orders. It establishes theopening price and determines the orders to be executed according to the rules for the open-auction period.c) During ‘regular trading’ new orders are continually matched against existing orders in the order book according to the rulesfor the regular trading session. If an order cannot be executed it is stored in the order book depending on its attributes.d) During ‘close trading’ the system computes the closing price for each security. During closing the state of the market isdisplayed as “closing”. Once the closing process is complete, the status of the market is displayed as “closed”.11 Trading Currency Kenya Shilling12 Key Regulations a) The Capital Markets Act and the regulations and rules made thereunder;b) Companies Act and the regulations and rules made thereunder;c) Central Depository Act and the regulations and rules made thereunder;d) NSE Listing Manual; ande) NSE Trading Rules.13 Total No of Securities 129 as of 31 December 2013 – (Equities – 61); (GOK Treasury Bonds – 60); (Corporate Bonds – 9).14 No of Segments 415 No of Indices 516 Reports a) Daily Market Reportb) Daily Equity Price Listc) Daily Fixed Income Price Listd) Monthly Bulletine) Weekly Equity Statisticsf) Weekly Bond Statisticsg) NSE Monthly Bulletinh) Quarterly EASEA Exchange Magazinei) Annual Report17 Data Vending Yes – 13 authorised data vendors18 Settlement Procedure Delivery vs Payment19 Delivery Automated Delivery System20 Settlement via Clearing House21 NSE Broker Back Office Automated back office system that enables senior management to monitor and auditactivities through suitable alerts and exception reports;22 Risk Mitigation a) Investor Compensation Fundb) Guarantee Fundc) Settlement Limits23 Policy & Tax Incentives There are numerous policy and tax incentives that are available in the development ofcapital marketsSource: NSE34
8.2 Equities ProfileThe listed shares traded are ‘ordinary shares’ with par values ranging from Kshs 0.10 to Kshs 100/-.Table 8.2-Equities ProfileNo Item Details1 No of Securities 61 equities as of 31 December 20132 No of Segments 33 Segments a) Main Investment Market Segment (MIMS)b) Alternate Investment Market Segment (AIMS)c) Growth Enterprise Market Segment (GEMS)4 Main Investment Market 10 namely Agricultural; Automobile & Accessories; Banking; Commercial & Services;Segment Sectors Construction & Allied; Energy & Petroleum; Insurance; Investment;Manufacturing & Allied Sector; Telecommunication & Technology.5 Market Capitalisation Kshs 1.92 trillion (USD 22.33 billion at Kshs 86 per USD) as of 31 December 20136 Indices a) NSE 20 Share Indexb) NSE All Share Indexc) FTSE NSE Kenya 15 Indexd) FTSE NSE Kenya 25 Index7 Indices Base a) NSE 20 Share Index (Base 100:1966)b) NSE All Share Index (Base 100: January 2008)c) FTSE NSE Kenya 15 Index (Base 100: 1 January 2008)d) FTSE NSE Kenya 25 Index (Base 100: 1 January 2008)8 Big 5 Listees a) Safaricom Ltdb) East African Breweries Ltdc) Kenya Commercial Bank Ltdd) Equity Bank Ltde) Barclays Bank Ltd9 Delivery, Settlement, Provided by independent company Central Depository and Settlement CorporationRegistration Limited in which the NSE has 22.5% shareholding10 Settlement Procedure Delivery vs Payment11 Delivery Automated Delivery System12 Settlement via Clearing House at commercial bank13 Settlement Cycle T+314 Risk Mitigation a) Investor Compensation Fundb) Guarantee Fundc) Settlement Limits15 Taxation a) Capital gains tax suspended since 1985b) 5% withholding tax for local investors (including East African investors)c) 10% withholding tax for foreign investorsSource: NSE8.3 Bonds ProfileTable 9.3-Bonds ProfileNo Item Details1 No of Securities 60 GOK Treasury Bonds and 9 Corporate Bonds as of 31 December 20132 No of Segments 2 - Normal and Infrastructure3 Segments Fixed Income Securities Market Segment4 Market Capitalisation Over Kshs 700 billion(value in issue)5 Types of Listees a) Government of Kenya Bondsb) Corporate Bonds/Notesc) Preference Shares6 Mix Government of Kenya Bonds contributes the majority of the market capitalization.7 Index FTSE NSE Kenyan Shilling Government Bond Index Base Date 01st Jan 2012 = 10035
Page 3: NAIROBI SECURITIES EXCHANGE LIMITED
Page 9 and 10: MIMSNSE SharesOfferOffer PeriodOffe
Page 11 and 12: SBG Securities LimitedCfC Stanbic C
Page 13 and 14: Chairman’s Statement(USD 2.89 bil
Page 15 and 16: Section 1Corporate Directory1.1 Cou
Page 17 and 18: 1.15 Subsidiaries of the NSEName &
Page 19 and 20: Section 2TimetableThe timetable for
Page 21 and 22: The dividend history is as follows:
Page 23: 3.3 Basis of Offer PriceThe Offer P
Page 26 and 27: a) agrees that having had the oppor
Page 28 and 29: 4.16.5 In the event that the result
Page 31 and 32: Section 6Development Of Capital Mar
Page 35: 7.1.5 NSE 20 Share Index Performanc
Page 39 and 40: Bachelor’s degree in Mathematics
Page 41 and 42: IT departments. Jane has also worke
Page 43 and 44: youthful investors in the use of th
Page 45 and 46: Section 11Material RisksThe future
Page 47: Section 12Legal Opinion45
Page 52: 2. THAT following the increase in a
Page 55 and 56: provided by Section 132 of the Act.
Page 57 and 58: under Article 116 hereof, may by an
Page 59 and 60: Land Reference No. 209/18851 was pu
Page 62 and 63: 13.27 Expenses of the OfferTable 13
Page 64 and 65: AnnexuresAnnexure ANairobi Securiti
Page 69: Annexure A2Nairobi Securities Excha
Page 103 and 104:
101
Page 105 and 106:
103
Page 107 and 108:
105
Page 109 and 110:
107
Page 111 and 112:
109
Page 113 and 114:
Serial No.Offer Opens: 9.00am, 24 J
Page 115 and 116:
Notes113
Page 117 and 118:
Notes115
show all

NSE-Web-Prospectus-2014

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?