EASEA pushes for cross-listing of regional IPOs

The East African Securities Exchange Association (EASEA) has put forward a policy that will require Initial Public Offers (IPO) within the East African Community to be cross listed on all the regional stock exchanges. EASEA—a body that puts together the stock exchanges of Kenya, Uganda, Tanzania and Rwanda—says that payment of shares during regional IPOs is a challenge, especially since it is bound to foreign exchange risks and transfer charges levied by banks during refunds to investors.