Following approval by the Nigerian Stock Exchange (NSE), Newrest ASL Nigeria Plc has delisted its 634 million entire issued share capital from the daily official list of the Nigerian bourse.
Newrest’s delisting from the NSE was announced in a statement signed by the head, Listings Regulation Department , NSE, Godstime Iwenekhai.
According to NSE, further to the market bulletin of February 27, 2019, notifying of the NSE approval of the application for voluntary delisting of the entire share capital of Newrest ASL Nigeria Plc and subsequent suspension of trading in the shares of the company.
“The entire issued share capital of Newrest ASL were delisted from the daily official list of the Exchange on May 13, 2019,” NSE said. The company early in the year filed application seeking to delist its entire shares from the NSE.
The NSE stated that the voluntary delisting was due to inability of Newrest ASL to meet up with the 20 per cent free float requirement of the Exchange.