The Nigerian Stock Exchange (NSE) delisted 22 companies between 2016 and 2017 for non-performance and failure to meet the required post-quotation standards.
The delisted companies include Cappa and D’Alberto, Intercontinental Bank Preference shares, IPWA, G Cappa and West African Glass Industries.
Others are Investment & Allied Insurance, Alumaco, Jos International Breweries, Adswitch, Rokanna, Vono Products, Lennards Nigeria, P.S. Mandrides & Company, Premier Breweries, Costain, Navitus Energy, Nigerian Ropes, Beco Petroleum, M Tech Communication, MTI, UAC and Ashaka Cement.
However, Seven-Up Bottling Company, African Paints and Afrik Pharmaceuticals were delisted in 2018.
Delisting is the process of removing a company from the official list of the stock either voluntarily or by compulsion.
NAN reports that under a voluntary delisting window (which seldom happens), a quoted company can decide to delist from the exchange due to reasons such as merger/acquisition.
On the other hand, the NSE can compulsorily delist a firm when it fails to meet up with post-quotation standards.