By InvestAdvocate

Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange (NSE) has so far delisted 63 Companies from its Daily Official List between 2002 to date.

As listed on the official website of the Nigeria’s Exchange, some of the firms were delisted for different reasons ranging from voluntary, regulatory, nationalised, merged or acquired reasons.

So far 47 out of the 63 firms were delisted on the Nigerian bourse based on regulatory reasons; this constitutes 34 percent (34%) of the total number of companies delisted in the review period, while seven (7) of the firms delisted voluntarily.

Three (3) were delisted as a result of their nationalisation, these are the 3 nationalised banks namely: Bank PHB Plc, Afribank Plc and Spring Bank Plc, which emerged as Keystone Bank Limited, Mainstreet Bank Limited and Enterprise Bank Limited respectively.

However, five (5) were delisted base on merger with other entities, while one ECOBANK Plc was delisted from the NSE based on absorption by Ecobank Transnational Incorporated (ETI) and now Ecobank Nigeria Limited.

Yvonne Emordi, Head of Strategy, at the NSE presenting a paper “Strategy Positioning of the Nigerian Stock Exchange, A Peek Into the Next Five Years” at second edition of Investment One Financial Services sponsored technical session designed to provide a platform for interaction among Institutional Investors and market makers said so far close to 60 firms has been delisted on the Nigerian Bourse based on different reasons.

“Two (2) companies were delisted based on regulatory reasons in 2013; while two more are expected to be delisted shortly for non-compliance.” She said.

Below is the list of delisted firms from the NSE

The following Corporates were delisted from the Daily Official List of the Exchange between 2002 and April 2013.

Source: NSE