Multi-Trex Shares Jump 16.7% After NGX Ends Nearly Eight-Year Suspension
Multi-Trex Integrated Foods Plc's shares rose 16.67% after the Nigerian Exchange Limited (NGX) lifted an eight-year trading suspension. The stock increased from N0.36 to N0.42 per share, ranking among the top five gainers on the NGX. The suspension was lifted after Multi-Trex filed required financial statements, resuming trading activity. The stock was highly traded, with over 27 million shares exchanged. This occurred amid a broader market decline, with the NGX All-Share Index falling 0.97%.
How this was made
The 30-second read
Why it matters
The suspension lift triggered a 16.7% price increase, making the stock one of the week’s top gainers on the NGX.
Market read
First report of a rare suspension lift leading to a notable intraday rally on a small‑cap Nigerian stock.
What to watch
Liquidity constraints and potential future compliance issues could cap upside.
Background
Multi-Trex Integrated Foods Plc had been suspended from trading on the NGX since 2018 for filing failures. The exchange lifted the suspension after the company filed the required statements.
Market effects
Limited to Nigerian consumer foods sector; modest impact.
Minor boost to Nigerian Exchange activity after a rare suspension lift.
None
Counterpoint
The price jump may be a short‑term rebound with limited fundamentals.
Key entities
- companyMulti-Trex Integrated Foods Plc
Nigerian food producer whose shares resumed trading after an eight‑year suspension.
- exchangeNigerian Exchange Limited (NGX)
Regulatory body that lifted the trading suspension.
