The Nigerian Stock Exchange, (NSE) has suspended trading on the shares of Avon Crowncaps & Containers following its decision to voluntarily delist.
The Nigerian Stock Exchange (NSE) on Thursday confirmed the suspension in a market bulletin published via its official website titled “Notice of Suspension of Trading on the Shares of Avon Crowncaps & Containers”
The notice signed by Acting Head, Listings Regulation Department of the NSE, Godstime Iwenekhai said the suspension took effect from Thursday, 31 August 2017.
Addressing dealing member firms, Iwenekhai noted that the suspension is in compliance with the approved Scheme of arrangement between the company and holders of its fully paid ordinary shares which will lead to the voluntary delisting of the company from the official list of The Exchange.
Avon Crowncaps and Containers (Nigeria) Plc is Nigeria’s leading manufacturer of metal packaging products.
Avon manufactures crowncaps, screw caps, metal containers which are used for packaging of baby foods, milk powder, beverages, insecticides, chemicals and agro based products.
Avon is also a leading supplier of tinlets for packing ointments, balms etc, pilfer proof caps used in the pharmaceutical industry and metal drums used by the oil and lubricants industry.