Tuesday, 14 October 2008

Nigeria delists dormant companies

As part of measures to protect investors and shareholders from dormant companies, the Nigerian Stock Exchange has delisted nine moribund companies from the stock exchange.

The companies were delisted because of low liquidity and a failure to update shareholders with corporate information on a regular basis.

The following companie were delisted: Intra Motors, ADC Plc, Grommac, Onwuka Hi-Tek and Nigerian Lamps, Nigerian Yeast & Alcohol company, Security Assurance Plc, Sun Insurance Plc and Nigerian Textile Mills Plc.

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