A total of seven companies delisted their shares from the Nigerian Exchange Limited (NGX) in 2021, up from five recorded in 2020. On the other hand the stock market recorded listing of four companies, up from one in 2020.
The delisted companies include 11 Plc, Evans Medical Plc, Nigeria-German Chemicals Plc, Roads Nigeria Plc and Unic Diversified Holdings Plc, Studio Press Nigeria Plc, Union Diagnostic and Clinical Services Plc.
Four, out of the delisted companies, were excluded by the NGX due to nonconformity to its regulations and three companies voluntarily delisted.
11 Plc, formerly Mobil Oil Plc, voluntarily delisted on May 7, 2021, after 43 years of trading on the Nigerian Stock Exchange.
In March, 11 Plc had told its minority shareholders that they could still retain their shares as the company was not willing to forcefully acquire their shares.
“The delisting of 11 Plc’s shares from NSE is not meant to make the company private. It is only a cessation of trading of the company’s shares on the NSE platform,” 11 Plc had said.