INVESTIGATION: TETFund’s N3.8 billion training contract triggers procurement controversy, concernsINVESTIGATION: How Nigerian soldiers killed unarmed civilians in Kaduna community
The exchange only admitted two new companies last year and has added Transcorp Power to its list this year. Whether you turn to Premium Times for daily updates, in-depth investigations into pressing national issues, or entertaining trending stories, we value your readership. Ardova , Union Bank, Capital Hotels and Courteville have left the stock exchange, just like GlaxoSmithKline Consumer , which last year shut down its manufacturing operations in Nigeria and switched to a distribution model.
Public listing sometimes comes with bottlenecks and stock exchange rules, such as time limits for filing financial reports and other statutory documents, which could attract weighty fines if flouted. It can be challenging for companies to observe. “It is not uncommon for companies to leverage stock exchanges to raise capital, expand their business, and later decide to go private or delist,” Andrew Latham, managing director of“Being publicly listed offers access to a broad capital pool but also comes with regulatory scrutiny, pressure to meet quarterly expectations, and other challenges. Once these companies have capitalised on the benefits, some see an advantage in returning to private status,” he added.
The full acquisition led the company to delist its shares from the NGX in July 2023, enabling him to own it privately. Total assets as of September 2022, when 22 Hospitality procured the controlling stake, was N28.9 billion, which climbed to N30.3 billion about the time it full acquired the company.Courteville completed its exit from the NGX last November after a few months in the works. The firm quit as the directors’ board felt the market value of its shares was not commensurate with its key performance metrics, even though the management thought the fundamentals were strong and attractive enough.
The company received the SEC’s nod in November 2023 to proceed with the move and offered other shareholders, apart from GSK UK , a cash distribution of N17.42 per share. This February, GSK quit the NGX, causing the combined value of the market to shrink by N20.3 billion.last July that its biggest shareholder Coronation Capital Limited and some other shareholders had tabled an offer to take the underwriter private.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: GuardianNigeria - 🏆 1. / 94 Read more »
Source: thecableng - 🏆 2. / 80 Read more »
Source: PremiumTimesng - 🏆 3. / 78 Read more »
Source: vanguardngrnews - 🏆 5. / 75 Read more »
Source: GuardianNigeria - 🏆 1. / 94 Read more »
Source: PremiumTimesng - 🏆 3. / 78 Read more »