REQUIREMENTS |
CRITERIA |
| Official List
|
- An issuer is admitted to the Official List of the capital market as long as its securities are listed on the OTC market.
|
| Sponsorship
|
- Every new applicant for listing must be sponsored by a participant of the capital market who is on the approved list of sponsors maintained by CMAC
|
| Nominated Adviser
|
Every issuer must appoint a nominated adviser who may be
- A person listed on the approved list of nominated advisers maintained by CMAC;
- It's sponsor,
|
Incorporation |
The issuer must be a corporation:
- duly incorporated or otherwise established in accordance with the laws of Rwanda; or
- Registered under the Company’s Act to carry on business in Rwanda.
|
| Minimum number of shareholders |
50 for equities at time of listing |
| Minimum spread of shares to the public |
25% |
| Minimum Paid up capital |
RFW 500 million |
| Minimum market capitalization |
New applicant: RFW 500 million |
Net Assets |
RFW 1 billion |
Track record |
3 financial years but less if issue is underwritten |
Application Procedures |
- A letter of application to list
- appropriate fees,
|
Disclosure document |
- The disclosure document must be lodged with CMAC
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