Any institution that issues financial securities is known as ‘Issuer’ by the SDSC. Securities admitted to the CSDR are electronically deposited into the CSD system on behalf of issuer’s shareholders and are available to account holders. Issuers may issue securities through Initial Public Offerings, Right Issues or Bonus Issues. Issued securities can be Shares/Equities, Corporate Bonds or Government Bonds.
Other than electronic crediting of securities into investor’s accounts during Initial Public Offerings, Right Issues or Bonus Issues, the SDSC also advises issuers on schedule of events and sequence of dates before publication of a corporate action to ensure that the sequence of events and timings are in accordance to the trading cycles.
The Issuer informs the Somali Stock Exchange and the SDSC in writing of all important dates with respect to dividend payment. On Books Closure Date / Register Closing Date, the SDSC provides the Registrar with the definitive and authentic record of registered securities holders (Register). The Shares Registrar then effects payments of dividend to the respective shareholders