WorldStage– No fewer than eight companies listed on the Nigeria Exchange (NGX) traded with insufficient shares in the first quarter of 2026 despite missing deadlines set to comply.
Described as companies with free float deficiency in the recent Exchange compliance report, these include Sunu Assurances Nigeria Plc, Golden Breweries Plc, Eko Corp Plc, and Prestige Assurance Plc.
Others are UPDC Plc, Multi-Trex Integrated Food Plc, Infinity Trust Mortgage Bank, and Aluminum Extrusion Industries Plc.
UPDC deadline expired in February, but got an extension, Golden Guinea has till August, and Sunu, November.
They all remain on the list, and continue trading in their stocks with insufficient shares till their compliance due dates much later in 2027 and 2028.
In effect, the deficiency makes their stock respond to buy or sell triggers in a manner that keeps investors away for fear of getting trapped in a position.
The eight fell below the minimum volume of shares the Exchange requires of companies listed in the Main Board categories to make available for public trading.
Such listed companies must have at least 20 percent of their paid-up shares—or shares with N20 billion in value—available for public trading..
Aluminum Extrusion has 16.6 percent of its free float available at N385 million, Prestige Assurance’s 15.5 percent at N3.2 billion, and Sunu’s 13.2 percent at N3.6 billion, and Eko Corp 12.6 percent at N365 million.
Others like Infinity Trust has 1.3 percent available at N998 million, UPDC’s 4.9 percent, and Golden Guinea’s 8.1 percent at N580 million, and Multi-Trex’s 7.2 percent at N118 million.
