The Nigerian Exchange Limited (NGX) has announced the
suspension of trading in the shares of Notore Chemical Industries Plc.
The development was announced in a statement by Godstime
Iwenekhai, head of the issuer regulation department of NGX, on Wednesday.
The suspension, according to the NGX, is in preparation for
the formal delisting of the company from the exchange.
“Trading license holders and the investing public are hereby
notified that trading in the shares of Notore Chemical Industries Plc was suspended
today, Wednesday, June 11, 2025,” the statement reads.
“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
(NGX).”
Notore Chemical Industries Plc had, on November 26, 2024,
notified the bourse, its shareholders, and the public that Kwararafa Africa
Limited has made an offer to acquire the shares held by the company’s minority
shareholders.
The transaction was proposed to be implemented by way of a
scheme of arrangement between the company and its shareholders in accordance
with the provisions of Section 715 of the Companies and Allied Matters Act 2020
(as amended), and other applicable laws.
Notore is a Nigerian-based agro-allied and chemicals company
known for its production of fertilisers and other chemical products.
The company has been listed on the NGX since 2018.
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