NSE suspends Avon Crowncaps & Containers shares following voluntary delisting

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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.

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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