Capital

NASD Exchange Suspends Trading Of Allianz Nigeria Shares

BY NKECHI NAECHE-ESEZOBOR–NASD Over-the-Counter (OTC) Securities Exchange has placed trading of Allianz Nigeria Insurance Plc shares on its platform on full suspension.

According to statement released yesterday, that the reason for the action was to allow the conclusion of the sale of the company’s stocks held by shareholders.

“Further the appointment and application of Stanbic IBTC Stockbrokers Limited as the stockbroker to the transaction, proposed scheme of arrangement between Allianz Nigeria Insurance Plc and the holders of its fully paid ordinary shares of 50 kobo each.

“We wish to inform you of the following: last trading date of Allianz Nigeria Insurance Plc on NASD OTC Securities Exchange will be Tuesday, November 10, 2020.

“And subsequently the shares would be placed on a full suspension at close of business, Tuesday, November 10, 2020, in lieu of the transaction,” a notice from the exchange noted.

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