Multi-Trex Integrated Food Plc Approved to Increase Public Shareholding by NGX

Multi-Trex Integrated Food Plc has been granted approval by the Nigerian Exchange Group (NGX) to enhance its public shareholding after a recapitalization exercise that resulted in its free float falling below the main board requirement. The company's Company Secretary, Sogunl Adekunle, announced that NGX has given Multi-Trex a 24-month moratorium ending on January 14, 2028, to restore its free float to at least 20% of the issued share capital or a market capitalization of 20 billion naira, whichever is lower.

This extension allows the company additional time to comply with regulatory requirements and implement strategies to increase public shareholding. Multi-Trex's public free float currently stands at 7.23%, valued at N117.46 million according to the 2024 financial statements.

The company has assured investors of its commitment to maintaining its listing on the NGX and is exploring strategies to increase public participation in its shareholding to ensure compliance with market standards.