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Arbico Delists from NGX

Business | 3 months ago

Arbico Delists from NGX

Kayode Tokede

Arbico Plc worth about N74.25 billion in market capitalisation has delisted from the daily official list of the Nigerian Exchange Limited (NGX).

The company had applied for voluntary delisting of its entire 148,500,000 ordinary shares of N0.50kobo each from the main board of NGX

Arbico joined GlaxoSmithKline Consumer Nigeria inn 2024 to delist from the Exchange

The NGX disclosed in its weekly official report made available to newsmen in Lagos that the company was delisted May 20 2024.

Arbico, a building and civil engineering construction company, was established in 1958 and listed on the Exchange in 1978.

Shareholders of the company had in March 2024 approved the voluntary delisting of the shares of the company from the bourse and sought the regulator’s approval.

NGX in a statement said: “Refer to our market bulletin of May 17, 2024, with reference number: NGXREG/IRD/MB26/24/05/17 wherein the Market was notified of the suspension placed on trading in the securities of Arbico Plc in preparation for the delisting of the company.”

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