C&I Leasing Concludes Share Reconstruction

By Dipo Olowookere

The total outstanding ordinary shares of C&I Leasing is now 404,252,500 ordinary shares of 50 Kobo each, the Nigerian Stock Exchange (NSE) has confirmed.

This followed the completion of the share reconstruction exercise carried out by the company recently.

Before now, the total outstanding shares of C&I Leasing was 1,882,818,912 of 50 Kobo each.

While the firm was updating its register of shareholders, the regulator placed a full suspension on trading of the C&I Leasing shares on its platform.

But after the exercise was completed, the stock exchange announced the lifting of the embargo with effect from Monday, January 14, 2019.

“The full suspension placed on trading in the shares of C&I Leasing Plc was lifted today, January 14, 2019,” the statement signed by the Head of Listings Regulation Department at the NSE, Mr Godstime Iwenekhai, said.

The NSE said “C&I Leasing has notified the Exchange that the reconstruction exercise has been completed and the shareholders’ register updated.”

Shares of C&I Leasing, which before the exercise were sold for N1.78k per unit, opened on Monday at N8.29k per share. The next day, the equities rose to N9.04k per share and on Wednesday, they were exchanged at the same price.

The company presently has a market capitalisation of N3.654 billion.