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- Incar Gets NSE’s Nod to Delist
Incar Gets NSE’s Nod to Delist
- By Kayode Ogunwale
- Published September 13th, 2010
- StockWorld
- Unrated
INCAR Nigeria Plc last week got the approval of the council of the Nigerian Stock Exchange to delist its shares from the daily official list of the exchange.
The company which sought the approval to delist in order to refocus its operations would no longer be traded on the floor of the Nigerian Stock Exchange. Meanwhile the council of the exchange through its quotation committee gave its consent to three other applications.
The applications which included a bond, a merger and a placing are worth N2.1 trillion. UACN Property Development Company Plc’s application for the listing of its bond was approved by the council. The N15 billion Fixed Rate Unsecured Non-Convertible Bond due in 2015 (Series1) under a N30 Billion Debt Issuance Programme was introduced by Stanbic IBTC Stockbrokers Ltd.
The application for listing of a special placing of the shares of Great Nigeria Insurance Plc which was introduced by Independent Securities Ltd was also approved. The insurance company did a special placing of 2.32 billion ordinary shares of 50k each at N1.71 kobo per share of to Wema Asset Management limited.
In the same vein, the council approved the listing of an enlarged company borne out of the merger between Dangote Cement and Benue Cement Company plc. A total of 15.49 billion ordinary shares of 50k was approved at N135.00 each for the new entity now known as Dangote Cement Company Plc.
The company which sought the approval to delist in order to refocus its operations would no longer be traded on the floor of the Nigerian Stock Exchange. Meanwhile the council of the exchange through its quotation committee gave its consent to three other applications.
The applications which included a bond, a merger and a placing are worth N2.1 trillion. UACN Property Development Company Plc’s application for the listing of its bond was approved by the council. The N15 billion Fixed Rate Unsecured Non-Convertible Bond due in 2015 (Series1) under a N30 Billion Debt Issuance Programme was introduced by Stanbic IBTC Stockbrokers Ltd.
The application for listing of a special placing of the shares of Great Nigeria Insurance Plc which was introduced by Independent Securities Ltd was also approved. The insurance company did a special placing of 2.32 billion ordinary shares of 50k each at N1.71 kobo per share of to Wema Asset Management limited.
In the same vein, the council approved the listing of an enlarged company borne out of the merger between Dangote Cement and Benue Cement Company plc. A total of 15.49 billion ordinary shares of 50k was approved at N135.00 each for the new entity now known as Dangote Cement Company Plc.
