Multi-Trex gets NGX approval to list 788.64mn private placement shares

The Nigerian Exchange Limited (NGX) has approved for listing the application of Multi-Trex Integrated Foods Plc’s 788,643,533 ordinary shares of 50 kobo each at N3.17 per share offered through Private Placement.

The stockbrokers for the listing are Capital Asset Limited and Signet Investments and Securities Limited; while the issuing houses/financial advisers are Capital Assets Limited, SFS Financial Services Limited, and Goldbanc Management Associates Limited.

Multi-Trex Integrated Foods Plc processes cocoa. The Company produces intermediate products such as cocoa butter and cocoa cake.

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The company listed on the consumer goods sector (food products subsector) of the NGX main board currently has shares 3,722,493,620 shares outstanding, each valued at 36kobo.

Multi-Trex Integrated Foods Plc has been on delisting watchlist (DWL) of the Exchange as approved by the Board of NGX Regulation Limited (NGX RegCo). It is among the delinquent filers of audited financial statements.

Multi-Trex Integrated Foods Plc is stigmatised for non-rendition of its audited financial statements for 2015 to 2022, as well as non-rendition of 2014 to 2023 Q2 Quarterly Financial Statements, according to the X-Compliance Report, a transparency initiative NGX RegCo designed to maintain market integrity and protect investors by providing compliance related information on all listed companies.

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.