As a demutualized
entity, the ownership of the NSE is separate from the right to be a trading participant, a stockbroker or investment bank, or members of the Kenyan investing public can now own shares in the NSE.
Demutualization is a well-established global trend and almost all stock exchanges worldwide operate in a demutualized
After converting to the stock organizational form, demutualized
firms attain levels of efficiency not achieved when they were employing the mutual production technology.
insurers cut their workforce by 40 percent, on average, after restructuring.
This is only the second time we have had to adjust the dividend scale since we demutualized
, which speaks to the underlying strength of the business.
stock exchange will be in a better position to attract international strategic partners and good quality issuers.
It would also provide provisions relating to ownership and voting rights, provision relating to governance structure of the demutualized
stock exchange to ensure segregation of its regulatory function from its commercial function, enabling provision for self-listing of demutualized
stock exchange and empowering the SECP to supervise a demutualized
stock exchange as a listed company on its own exchange.
Our results suggest that there is more "money left on the table" for demutualized
insurers than for non-demutualized
TSE, which demutualized
itself to become a stock company in November 2001, will sell shares to the public only in Japan through the three co-lead managers.
Two companies have securitized the embedded value associated with "closed blocks" formed when the companies demutualized
As part of the transaction, the former Mutual Service Casualty Insurance Company was demutualized
and converted to a stock company and given the current name.
The results using the value-added approach indicate that demutualized
life insurers improve their efficiency before demutualization.