A total of 36 companies have delisted from the Nigerian stock market between May 2016 and May 2021, even as five more are currently undergoing delisting process.
A compulsory or regulatory delisting occurs when a company is forced to delist itself from an exchange because it fails to meet the listing requirements mandated by the exchange. Voluntary delisting occurs when a company decides to remove all its shares from the exchange and make it unavailable for trading.
“The purpose of delisting is to enable the company explore strategic opportunities, alliances and collaborations that can bolster earnings and/or provide synergised benefits with little or no regulatory obligations,” the company said in February this year. In 2019, Dangote Flour Mills Plc , Diamond Bank Plc , First Aluminium Nigeria Plc , Fortis Microfinance Bank Plc , Great Nigeria Insurance Plc , Newrest ASL Nigeria Plc and Skye Bank Plc were delisted from the exchange.
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