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Thursday, March 23, 2023

Suspension on Wema Bank Shares Lifted After Capital Restructuring

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Trading on the shares of Wema Bank has resumed following a successfully concluded capital restructuring.

This follows the full suspension placed on trading in the shares of Wema Bank Plc, on Tuesday, 8 March 2022, in preparation for the share reconstruction of the Bank’s issued and fully paid shares.

Read also https://moneycentral.com.ng/exclusive/article/wema-profit-drops-most-in-four-years-as-low-yields-squeezes-revenue/

The reconstruction entailed going from 38,574,466,082 ordinary shares of 50 Kobo each to 12,858,155,360 ordinary shares of 50 Kobo each in the ratio of one (1) for every three (3) shares held.

The entire listed old shares of 38,574,466,082 units of N0.50 at N0.92 each have now been delisted from the Daily Official List of Nigerian Exchange Limited (NGX) on 30 March 2022.

NGX also relisted on the Daily Official List the reconstructed shares of 12,858,155,360 units of N0.50 at N2.76 each, and lifted the full suspension placed on Wema Bank Plc’s shares.

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