Ikeja Hotels Plc Leads Price Gainers


Shares of Ikeja Hotels Plc led the price gainers at the stock market on Tuesday after the suspension placed on the company by the Nigerian Stock Exchange (NSE) in November 2016 was lifted.

The stock appreciated by 9.6 per cent to close higher at N2.04 per share, while investors traded about 34.552 million units.

Trading in the shares of Ikeja Hotels Plc was halted by the NSE following a protracted feud among the majority shareholders of the company in 2016.

However, the NSE on Monday lifted the suspension after the company provided a status update to the market.

According to the Executive Director, Regulation, NSE, Tinuade Awe, the new board had complied with the necessary regulatory requirements and restored the company to the path of recovery.

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