NSE Delists shares of Wema Bank, Intercontinental Bank

By Chioma Obinagwam

The Nigerian Stock Exchange (NSE) said it has delisted a total of 913.91 million units of ordinary shares of 50 kobo each belonging to Wema Bank Plc

The Exchange said the shares represented the unpaid portion allotted to SW8 Investment Limited in May 2009 now reversed in compliance with Central Bank of Nigeria’s (CBN’s) directive.

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With the shares delisted from the shares outstanding of the lender, the new outstanding shares now stood at 38.57 billion units, the NSE said.

In the same vein, a total of 1,50 million units of the defunct Intercontinental Bank Plc Preference from the Daily Official List on Tuesday March 2, 2016.