Stocks to be delisted: STOKVIS, NIGSEWING & NIWICABLE Contribute 0.01% to NSE Market CAP



Thursday, July 09, 2015/ 04.20pm / TheAnalyst

The recent announcement by the Nigerian Stock Exchange to proceed with the delisting process on (1) Nigerian Sewing Machine Manufacturing Plc, (2) Stockvis Plc and (3) Nigeria Wire & Cable Plc effective July 13, 2015, would definitely be worrisome to a few investors with holding in the three (3) firms as this action will amount to an erosion of investments.

A review of trends on the three (3) stocks reveals that they have been trading at a significantly low price for a very long time while they have also not complied with post listing requirements in terms of filing financial statements with the regulators.

STOKVIS has been trading at 0.14kobo since April 23, 2013, NIGSEWING also has been trading at 0.15kobo since similar date while NIWICABLE has been trading at 0.50k since Oct 18, 2011.

Furthermore, a look at their latest financial released revealed that STOKVIS and NIWICABLE last result were declared in 2010 while NIGSEWING has no financial.

Also, further analysis on the contribution of the three (3) firm market cap to the total NSE Market Cap reveals that they contributed only 0.01% to the total market cap which suggests that they won’t have much effect on the market on delisting.

Further review on these stocks drives us to take a look at stocks trading at 50kobo and there are forty-three (43) of them as at  July 9, 2015 aside the three (3) set to be delisted.

We encourage NSE to take a critical look at below stocks also as we have some of them with two (2) years and above audited and quarterly financials yet to be released to the market.

Related News

1.        STOCKVIS, 2 Others Set to be delisted; Fail to Regularize Listing Status – Jul 09, 2015

2.    The Delisting Watch List on NSE – TNI Q2/E12 – Jun 18, 2015




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