BY NKECHI NAECHE—–The Nigerian Stock Exchange (NSE) has delisted Investment & Allied Insurance and 21 companies between 2016 and 2017 over non-performance and failure to meet the required post-quotation standards.
The companies included Cappa and D’Alberto, Intercontinental Bank Preference shares, IPWA, G Cappa and West African Glass Industries.
Others were Investment & Allied Insurance, Alumaco, Jos International Breweries, Adswitch, Rokanna, Vono Products, Lennards Nigeria, P.S. Mandrides & Company, Premier Breweries, Costain, Navitus Energy, Nigerian Ropes, Beco Petroleum, M Tech Communication, MTI, UTC and Ashaka Cement.
In 2018 Seven-Up Bottling Company, African Paints and Afrik Pharmaceuticals were delisted.
According to NSE delusting is the process of removing a company from the official list of the stock either voluntarily or by compulsion.
Also, under a voluntary delisting window, a quoted company can decide to delist from the exchange due to reasons such as merger/acquisition.
NSE can also compulsorily delist a firm when it fails to meet up with post-quotation standards.