Nigeria’s Securities and Exchange Commission (SEC) has proposed new rules for Public Offering of securities by a Free Trade Zone Entity (FTZE). Free Trade Zone Entity is means a free zone enterprise, established in a free trade zone and licensed by a Free Zone Authority.The SEC has set a N7.5 billion minimum capital requirement specifically for such entities that intend to undertake a Public Offering. SEC noted that no shares of an FTZE may be issued or offered to the public, without the approval of the Commission in accordance with the provisions of the new rules...................... READ MORE