Iheanyi Nwachukwu
The Nigerian Stock Exchange (NSE) notified its dealing members on Monday May 21, 2018 that the suspension of trading in the shares of Ikeja Hotel Plc has been lifted.
The Nigerian Bourse had in its market bulletin of November 10, 2016 notified dealing members of the suspension of trading in the shares of Ikeja Hotel Plc. The share price had remained at N1.78kobo, while shares outstanding are 2,078,796,399 units.
The lifting of the suspension of trading in the shares of the company follows approval by the Quotations Committee of the National Council of The Exchange on Friday May 11, 2018, according to a circular signed by Godstime Iwenekhai, Head, Listings Regulation Department, NSE.
Dealing members will recall that the new board members of Ikeja Hotel Plc had on Friday May 18, 2018 provided a status update to the market at a “Facts Behind the Restructuring” event.
At the event, the board of directors of Ikeja Hotel Plc led by Anthony Idigbe, assured investors of its immediate readiness to complete the forensic audit on the company and its investee companies, Capital Hotels Plc and Tourist Company of Nigeria.
Consequently, trading in the shares of the company has resumed on the Exchange. The Securities and Exchange
Commission (SEC) has been notified of this development.
