Notore Chemical Industries Delists From NGX

Notore Chemical Industries Plc has officially exited the Nigerian Exchange Limited (NGX) following the completion of its voluntary delisting process.

According to the NGX weekly report, the company’s entire issued share capital was formally removed from the Daily Official List of the Exchange on Friday, July 4, 2025, marking the end of its status as a publicly listed entity.

This development follows an earlier notification by NGX via a Market Bulletin dated June 11, 2025, which informed market participants of the suspension of trading in Notore’s securities. The suspension was part of regulatory procedures to facilitate the delisting process and ensure an orderly withdrawal from the Exchange.

The NGX has now confirmed that it approved Notore’s application to voluntarily delist its entire issued share capital from the platform.

The company’s shares are no longer eligible for trading on the secondary market, effectively concluding its presence on the NGX’s Daily Official List.

While the Exchange’s bulletin did not provide specific reasons for the company’s delisting, market analysts suggest that factors such as low free float, limited liquidity, or strategic corporate restructuring could have influenced the decision.

Companies typically opt for voluntary delisting to streamline operations, reduce regulatory compliance costs, or restructure ownership away from public scrutiny.

Notore had earlier obtained shareholder approval for the delisting via a Scheme of Arrangement, as is customary in such transactions.

The scheme often includes provisions for shareholders to either sell their shares back to the company or convert them into holdings in a private entity, depending on the terms set out by the board and sanctioned by the regulators.

With the delisting now completed, existing shareholders will no longer be able to trade their shares on the NGX. They are expected to receive further guidance from the company regarding post-delisting shareholding arrangements, including possible buyback options or alternative trading mechanisms through the NASD OTC platform, if applicable.

The delisting of Notore marks a significant development for the Nigerian capital market as it underscores the continued challenges listed companies may face in maintaining regulatory compliance and sustaining investor interest in the public markets.

Notore Chemical Industries Plc, a player in Nigeria’s agro-allied and chemicals sector, was previously listed on the NGX in 2018. Its exit reduces the number of publicly traded companies in the chemicals and industrial goods segment, though the firm is expected to continue operations as a privately held entity.