The Nigerian Exchange Limited has suspended trading in the shares of Sterling Bank Plc. The suspension was in preparation for a restructuring of the bank.
According to NGX, the suspension is necessary to prevent trading in the shares of the bank in preparation for the scheme of arrangement between the bank and the holders of its fully paid ordinary shares of 50 Kobo each for restructuring of the bank.
“The suspension is required to determine the shareholders who will qualify for the scheme.”