Press Release …adjourns listing of Geo-Fluids Nigeria
In line with the Central Bank of Nigeria’s directive that banks operating in the country split up their commercial banking business from other financial service businesses, the Nigerian Stock Exchange (NSE) has commenced the delisting of select banks and the listing of Holding Companies in their stead.
Following the approval of the Quotations Committee of Management at The NSE, the applications for the listing of Stanbic IBTC Holdings Plc was granted approval for the listing of its entire issued shares on Friday November 23, 2012 having submitted all obligatory documents required for listing.
The CEO of Stanbic IBTC Holdings Plc, Mrs. Sola David-Borha and the CEO of Stanbic IBTC Bank, Mr. Yinka Sanni addressed the stockbroking community on the trading floor of The NSE on Friday. After citing the numerous benefits the organisation stood to gain from the new structure, David-Borha was granted the honour of ringing the Closing Bell of The Exchange.
On the other hand, barring any last minute change in plans, FBN Holdings Plc will be listed on The NSE on Monday, November 26, 2012 after the delisting of First Bank of Nigeria Plc. The Bank engaged the Central Securities Clearing System Ltd (CSCS) and Market Operations at the close trading on Friday for cut-over of its issued shares through the weekend prior to the eventual listing on Monday.
It can be recalled that both banks had already received the nod of regulators with the bank’ shareholders ratifying the new structure at court-ordered general meetings held in Lagos.
The Listings Regulation Department of the Nigerian bourse also announced that The Exchange had adjourned the proposed listing of Geo-Fluids PLC.
Head | Media Relations
The Nigerian Stock Exchange
Stock Exchange House | 2-4 Customs Street | Lagos| Nigeria