NSE Suspends Trading on Shares of Avon Crowncaps & Containers

September 1, 2017

By Modupe Gbadeyanka

Trading on the shares of Avon Crowncaps & Containers (Nigeria) Plc has been suspended by the Nigerian Stock Exchange (NSE).

A statement signed by the NSE’s Acting Head, Listings Regulation Department, Mr Godstime Iwenekhai, made this known on Thursday.

The stock market regulator disclosed that it suspended trading on the shares of the firm effective Thursday, August 31, 2017.

“Dealing Members are hereby notified that trading on the Shares of Avon Crowncaps & Containers (Nig.) Plc on the floor of the Nigerian Stock Exchange has been suspended effective August 31, 2017,” Mr Iwenekhai said in the statement.

He said, “This is in compliance with the approved scheme of arrangement between the company and holders of its fully paid ordinary shares which will lead to the voluntary delisting of the company from the official list of the NSE.”

Avon Crowncaps and Containers (Nigeria) Plc is Nigeria’s leading manufacturer of metal packaging products – a one stop shop for all your metal packaging requirements.

The firm, which has its head office in Ogun State, manufactures crowncaps, screw caps, metal containers used for packaging of baby foods, milk powder, beverages, insecticides, chemicals and agro based products.

Avon is also a leading supplier of tinlets for packing ointments, balms etc, pilfer proof caps used in the pharmaceutical industry and metal drums used by the oil and lubricants industry.

Modupe Gbadeyanka

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

Leave a Reply

union bank nigeria
Previous Story

SEC Approves Union Bank N50b Rights Issue

Next Story

Babatunde Ajayi Emerges New Akarigbo of Remoland

Latest from Economy

NASD Unlisted Security Index

NASD Index Declines by 0.02%

By Adedapo Adesanya There was a 0.02 per cent loss at the NASD Over-the-Counter (OTC) Securities Exchange on Friday, June 21 after the share

Don't Miss