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Exchange delists firm’s shares on request

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The Nigerian Stock Exchange (NSE) has given vent to the request by First Aluminum Nigeria to delist it from the bourse’s daily official list.

Head, Listings Regulation Department of the Exchange, Godstime Iwenekhai, stated that the entire issued share capital of the company was delisted yesterday.

He said the exercise was in furtherance to the bourse’s market bulletin of May 13, 2019 notifying subscribers of the suspension of trading in the shares of the firm in preparation for the voluntary delisting.

Voluntary delisting is the withdrawal of an issuer’s securities listed on the exchange with the express approval of the holders after complying with relevant requirements.

The NSE, had on May 15, 2019, suspended trading in the shares of the company ahead of the exercise.

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