Business
NSE Suspends Ecobank’s Shares
The Nigerian Stock Exchange (NSE) on Wednesday placed the shares of Ecobank Nigerian Plc on full suspension.
This follows the court ordered meeting on Thursday December 22,2011 in preparation for the delisting of the bank’s shares from the Exchange.
Shareholders of the company, had at the meeting approved the ongoing merger between Ecobank Nigeria Plc and Oceanic Bank International Limited.
Under the arrangement, Ecobank would thereafter delist its shares from the NSE and be part of Ecobank Transnational Incorporated, the parent body.
Meanwhile, shareholders in the enlarged Ecobank will get one share in ETI (Ecobank Transnational Incorporate for every 5.16 Oceanic shares owned.