Following the recent acquisition of its entire five billion ordinary shares in issue, as approved by shareholders at an extraordinary general meeting, management of the Nigerian Stock Exchange (NSE), on Monday, November 18, delisted Dangote Flour Mills Plc from its Daily Official List.
The company’s shares were acquired by Crown Flour Mills, the Nigerian arm of Singaporean commodities trader- Olam International (READ MORE).
Before the move, the NSE had through its Market Bulletin dated Monday, 28 October 2019, with Reference Number: NSE/RD/LRD/MB59/19/10/28, announced the full suspension of trading in the shares of DFM.
The suspension, the exchange recalled, “was as a result of the approval of the Scheme of Arrangement for the acquisition of the entire issued and fully paid ordinary shares of 50 kobo each in DFM held by Scheme Shareholders by Crown Flour Mills Limited which will ultimately lead to the delisting of Dangote Flour Mill Plc from The Nigerian Stock Exchange (The Exchange).”