A Nominated Advisor is essential for companies listing on the EGM market segment, dedicated to SMEs and start-ups. They act as key consultants, helping companies meet issuance and listing requirements. For start-ups, Nominated Advisors assist in turning business ideas into reality and organizing the company. Appointed for the duration of the listing, they ensure investor protection through sound financial management and guide issuers toward a Main Investment Market Segment (MIMS) listing. Companies cannot list on the EGM without a Nominated Advisor.
|
Requirement |
Details |
|
Incorporation |
Must be incorporated as a public company under the Companies Act 2002 |
|
Minimum Capital |
No minimum capital required |
|
Track Record |
No minimum track record required |
|
Profitability History |
No minimum profitability history required |
|
Promoter Exit Restrictions |
Promoters of companies with no track record cannot exit for three years from listing |
|
Nominated Advisor |
Must appoint a Nominated Advisor for the duration of its listing on EGM |
|
Business Plan and Feasibility Report |
Must have a 5-year business plan and an independent technical feasibility report prepared by the Nominated Advisor |
|
Minimum Shareholders |
Must have a minimum of 300 shareholders |
|
Public Shareholding |
Public shareholding should be at least 20% of the issued shares |
|
Prospectus |
Must prepare a Prospectus to be approved by the CMSA |
|
Abridged Prospectus |
Must publish an abridged Prospectus in the press |
|
Audit Committee |
Must have Audit Committees as per the CMSA Guidelines on Corporate Governance 2002 |
|
Corporate Governance |
The Memorandum and Articles of Association must provide for the observance of good corporate governance |
Technology is our cornerstone.
Delivering quality services and innovative products in Tanzanian and global capital markets. We prioritize staying updated, ensuring customer satisfaction.