News Formal

Delisting of GSK, PZ, others to wipe N205bn from stock market cap

  • 📰 vanguardngrnews
  • ⏱ Reading Time:
  • 19 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 75%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

About N205.002 billion will be wiped from the Nigerian Exchange Limited (NGX) equities capitalization following the planned delisting of GlaxoSmithKline (GSK) Plc, PZ Cusson Plc, Oando Plc, Coronation Insurance Plc, and Capital Hotel Plc, from the stock market.

About N205.002 billion will be wiped from the Nigerian Exchange Limited equities capitalization following the planned delisting of GlaxoSmithKline Plc, PZ Cusson Plc, Oando Plc, Coronation Insurance Plc, and Capital Hotel Plc, from the stock market.

Vanguard findings show that the eventual delisting of GSK, which announced its intention to shut down its operation in Nigeria, will cost the market N15.49 billion in market value. Economy experts have, however, linked the company’s decision to scarcity of foreign exchange and the forex losses incurred by most companies following the devaluation of the Naira.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

NGX to Tinubu: Champion capital market reforms that will boost economic growthUmaru Kwairanga, chairman of the Nigerian Exchange Group Plc (NGX Group), has urged President Bola Tinubu to lead the capital market reforms that will drive the actualisation of his mandate of double-digit economic growth.
Source: thecableng - 🏆 2. / 80 Read more »