NGX Delists Shares of Flour Mills

This development was confirmed in a notice issued by the bourse last week to the investing public.

The disclosure was signed by the Head of the Issuer Regulation Department of the NGX, Mr Godstime Iwenekhai.

Before the action was taken, the stock exchange had suspended trading in the shares of the company ahead of its exit from the market.

“We refer to our market bulletin of 16 December 2024 with reference Number: NGXREG/IRD/MB93/24/12/16 wherein the market was notified of the suspension placed on trading in the securities of Flour Mills of Nigeria Plc in preparation for the delisting of the company.

“Following the approval of the company’s application to delist its entire issued share capital from Nigerian Exchange Limited (NGX), please be informed that the entire issued share capital of Flour Mills of Nigeria were on Monday, December 30, 2024, delisted from the daily official list of NGX,” the statement said.

Flour Mills is leaving the local equity market after its majority shareholders agreed to acquire the stocks held by minority investors at N86 per unit.

The organisation is embarking on an ambitious $1 billion investment plan to expand its presence and impact across the African continent over the next four years, which is anticipated to create new opportunities and unlock value for the company, its employees, and economies throughout Africa.