Sterling Holdings Slumps amidst Missed Regulatory Filing
Sterling Financial Holdings Company Plc lost about 6% of its market value in the equities market on Monday amidst huge trading volume and missed regulatory filing.
According to data obtained from the Nigerian Exchange, NGX, the financial services company’s share price fell to N5.7 as 14.430 million units valued at N84.063 million were traded in the local bourse.
The negative price movement reduced the market value of Sterling Plc’s 45.457 billion outstanding shares on NGX to N259.105 billion, according to trading details. Sterling Plc is trading at more than 11% discount to its 52-week high on the Nigerian Exchange due to the latest bearish touch.
In March, Sterling Financial Holdings Company Plc told the Nigerian Exchange Limited and its shareholders that the Board of Directors will meet on Friday, 25th April 2025, to consider the company’s unaudited financial statements for the period ending 31st March 2025.
The holding company said the closed period for trading its shares, which commenced on 1st January 2025, will continue until twenty (24) hours after the Audited Financial Statements for the year ended 31st December 2024 and Unaudited Financial Statements for the period ending 31st March 2025 are released on the floor of NGX.
As of May 12, Sterling Plc has yet to release its audited and unaudited financial results, lagging behind its peers. This has forced the Nigerian Exchange to qualify its profile with MRF—missed regulatory filing—which often attracts penalty. Nigerian Exchange Index Hits All-time High in Explosive Rally
