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Home Companies Company News

Here is why CSCS yanked off Union Homes from investors statements

Nairametrics by Nairametrics
May 4, 2015
in Company News
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UNHOMES underwent a re-organization of capital between Monday, 16 March to Friday, 20 March 2015, during which the Nigerian Stock Exchange (NSE) announced the full suspension of the company’s shares, following the directive of the Securities and Exchange Commission on Tuesday, 10th of March 2015. Normal transactions on the shares resumed on Monday, 23rd March 2015

Consequently, the shares outstanding of UNHOMES moved from 7,812,500,000 (Market cap: NGN3,906,250,000) to 195,312,501 (Market cap: NGN1,250,000,006.40), with a trading price of NGN6.40, as against NGN0.50 pre-restructuring.

Also, the CSCS has currently taken off UNHOMES holdings from all investors’ statements as a result of the ongoing reconstruction in the company. However, they shall be credited with their equivalent reconstructed units once the process is finalized.

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Source: Meristem

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Nairametrics is Nigeria's top business news and financial analysis website. We focus on providing resources that help small businesses and retail investors make better investing decisions. Nairametrics is updated daily by a team of professionals. Post updated as "Nairametrics" are published by our Editorial Board.

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