Concerns As 121 Firms Delisted From Nigeria’s Stock Exchange In 20 Years

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According to data got from the Exchange; they has delisted 121 quoted companies from the official list of Nigerian Exchange Limited (NGX) between 2002 to 2022 (20 years).

Investigation showed that while it delisted some firms for violating post listing requirements or because of merger and acquisition; others, however, delisted voluntarily when they no longer can continue to play in the capital market.

It was also found out that most of the companies delisted voluntarily from the stock exchange cited harsh economic climate; and also parent company buy-out as reasons.

However, the trend has continued following the approval of the shareholders of Greif Nigeria Plc at its Annual General Meeting. Which held on 31 January 2022. It allowed the commencement of the process of voluntary winding up of the Company under Section 622 of the Companies. And also Allied Matters Act (CAMA) 2020. NGX last week suspended trading in the shares of the company effective to ensure a smooth winding-up process.

-Nairametrics.

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