By Aduragbemi Omiyale
Trading the shares of Courteville Business Solution Plc at the stock exchange has been suspended, the Nigerian Exchange (NGX) Limited has disclosed.
The embargo was placed on the organisation, which created the popular AutoReg, by the NGX Regulation Limited, the NGX Group Plc’s subsidiary saddled with the responsibility of regulating the country’s equity market.
Courteville equities are being prohibited from trading activities at the bourse because the company intends to delist its securities from the NGX.
According to a notice signed by Ms Lilian Dako on behalf of the Head of Listings Regulation Department of the NGX, Mr Godstime Iwenekhai, the suspension became effective Tuesday, October 17, 2023.
“Trading license holders and the investing public are hereby notified that trading in the shares of
Courteville Business Solution Plc was suspended today, Tuesday, October 17, 2023.
“The suspension is necessary to prevent trading in the shares of the company in preparation for the delisting of the securities of the company in line with the approval obtained from Nigerian Exchange Limited,” a part of the statement said.
Business Post reports that organisations sometimes seek to delist their shares from the stock exchange if they are unable to meet the strict post-listing requirements.
In some instances, they do so to become a private company, avoiding being mandated to make their books open to members of the public.
