Abbey Mortgage Bank Gets Extension of Free Float Compliance
Abbey Mortgage Bank Plc told shareholders that Nigerian Exchange Limited has approved the Bank’s free float compliance extension request of three (3) years ending 4 October 2025.
According to a statement, management said the extension is to enable the Bank to comply with NGX’s free float requirement of 20% issued and fully paid share capital. READ:Abbey Mortgage Bank Signs ₦3.692bn Rights Issue
In Naira terms, this translates to N20 billion free-float market capitalization for companies listed on its Main Board and to ensure that the Bank returns to compliance with its post-listing obligations.
The requirement is in line with the Exchange’s Rules Governing Free Float Requirements, which states that “The Exchange may suspend trading in the Company’s securities if the Company does not achieve the required free float within the stipulated timeframe”.
“The Bank is positioned to achieve and meet the free float requirements within the three years timeframe ending 4 October 2025 given by NGX failing which NGX RegCo may suspend trading in its securities”, Abbey Mortgage Bank said.
# Abbey Mortgage Bank Gets Extension of Free Float Compliance#
