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LequteMan
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The Nigerian Stock Exchange (NSE) has delisted a total of 913,907,131 units of ordinary shares of 50 kobo each belonging to Wema Bank Plc.
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, NSE said.
With the shares delisted from the shares outstanding of the lender, the new outstanding shares now stood at 38,574,466,082 units.
Shares of Wema Bank at the close of the week’s trading on the Nigerian bourse dropped 9.38 per cent to N0.87 kobo from N0.96 kobo traded the previous week.
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, NSE said.
With the shares delisted from the shares outstanding of the lender, the new outstanding shares now stood at 38,574,466,082 units.
Shares of Wema Bank at the close of the week’s trading on the Nigerian bourse dropped 9.38 per cent to N0.87 kobo from N0.96 kobo traded the previous week.