LAGOS - GlaxoSmithKline (NYSE:GSK) Consumer Nigeria Plc (GSK) has obtained the necessary regulatory green light and a court order to delist from the Nigerian Exchange Group (NGX). This development comes after GSK's shareholders approved the company's Scheme of Arrangement, marking a significant shift in its business strategy within the country.
The authorization from Nigeria's Securities and Exchange Commission (SEC) and the subsequent Federal High Court order pave the way for GSK to implement its strategic business decisions. These decisions include ending its operations in Nigeria and moving towards a third-party direct distribution model. The delisting process is a culmination of the company's efforts to restructure its operations and focus on a new distribution approach.
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