By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)- Nigerian Stock Exchange (NSE) Wednesday announced it has extended the full suspension placed on the shares of International Energy Insurance Plc (IEI) in the companies bid to reconstruct its shares.

The firm in a notice to the Nigerian Stock Exchange (NSE) and made available to InvestAdvocate is seeking to extend the full suspension placed on its shares from June 20, 2013 to July 12 2013.

According to IEI, the extension is to enable the company complete the ongoing process of consolidating the shares of IEI from 6,420,427,449 to 1,284,085,489 ordinary shares of 50 kobo each, which has lingered due to unforeseen circumstances.

Following this, Dealing Members and investing public are therefore informed that the suspension will now be lifted on the 12th of July 2013.

The NSE had on Friday June 07 2013 notified the public and other market stakeholders that it has placed the shares of insurance firm International Energy Insurance on full suspension.

According to IEI, the proposed newly reconstructed shares will be listed on the Exchange at N2.50.