Cititrust Joins Unlisted Securities Exchange at N5.50

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange has announced the admission of Cititrust Holdings Plc to the fold of companies trading on its platform.

The firm joined the unlisted securities exchange on Thursday, May 26, increasing the number of organisations on the platform to 40.

This is coming after Access Bank listed more than 35.545 billion shares valued at N353.674 billion after delisting from the Nigerian Exchange (NGX) Limited in March following the Scheme of Arrangement last December at N9.95 per unit.

Business Post understands that Cititrust listed its stocks at the alternative bourse at N5.50 per unit and will trade under the code “SDCITITRUST” and has been categorised under the Blue category which is reserved for admitted securities with a history of sound financial performance.

“These Issuers demonstrate a high level of corporate governance, timely disclosure of their financial statements, regular communication with shareholders and meet minimum requirements of the Securities and Exchange Commission (SEC),” the NASD OTC exchange said.

In the notice, NASD said, “We are pleased to inform you that the shares of CITITRUST HOLDINGS PLC have been admitted to trading today May 25, 2022, on the NASD OTC Securities Exchange.

“Dematerialisation can commence through Meristem Registrars & Probate Services Ltd.”

Cititrust Holdings Plc is a financial services company with a number of subsidiaries that focus on mortgage financing, asset finance, education finance and other short term facilities; small-scale banking & bureau de change activities.

It has a foothold in countries like South Africa, Liberia, Uganda, and Tanzania. It has a market capitalisation of N5.5 billion with one billion units of tradable securities in issue.