The market capitalisation of LASACO Assurance Plc dropped 9.52 per cent on the floor of the Nigerian Stock Exchange (NSE) amid suspension of its shares
The company’s market capitalisation lost N293.373 million at Monday’s trading declining from N3. 080 billion to N2. 787 billion, representing a 9.52 per cent fall.
The share price also depreciated by N0.16 Kobo, from its N1. 68 per share it last traded to N1.52 per share. It’s outstanding shares remain at 1,833,585,855.
The company”s resumption of trading on Monday follows the full suspension on its shares by the Nigeria Stock Exchange. LASACO last traded its shares on the NSE on January 29th 2021.
However, on Friday, the NSE through its weekly report insisted on the full suspension placed on its shares.
In a notice the NSE titled, LASACO Assurance Plc – Extension of Full Suspension on Trading”, it noted,
“Please refer to our market bulletin of 1 February 2021 with reference number: NSE/RD/LRD/MB07/21/02/01, notifying the Market of the placement of full-suspension on trading in the shares of LASACO Assurance Plc (LASACO or the Company), in order to determine
shareholders eligible for the share capital reconstruction as at the Qualification Date of 29 January
2021.
“Dealing Members are hereby notified that the full suspension placed on trading in the shares of
LASACO has been extended in order to enable the Company complete the reconstruction exercise and to allot the reconstructed shares to eligible shareholders. The extended period of suspension is from 15 February 2021 till further notice,” the NSE stated.
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