By InvestAdvocate

Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange (NSE) said Friday it has delisted a total of 913,907,131 units of ordinary shares of 50 kobo each belonging to Wema Bank Plc

The Exchange said the shares represented the unpaid portion allotted to SW8 Investment Limited in May 2009 now reversed in compliance with Central Bank of Nigeria’s (CBN’s) directive.

With the shares delisted from the shares outstanding of the lender, the new outstanding shares now stood at 38,574,466,082 units, the NSE said.

Shares of Wema Bank at the close of the week’s trading on the Nigerian bourse dropped 9.38 percent to 0.87 kobo from 0.96 kobo traded the previous week; losing 0.09 kobo per share.