Finance
MSCI to Delist FBN Holdings, Ecobank
- MSCI to Delist FBN Holdings, Ecobank
MSCI, a global provider of financial instruments and multi-asset portfolio analysis tools, will delist two of Nigerian listed financial institutions from its MSCI Frontier markets Index for underperforming the NSE benchmark index at -16.68 percent year-to-date.
The two financial institutions are Ecobank Transnational Integrated Plc (ETI) and FBN Holdings Plc.
The value of a unit ETI share declined by 50 percent in the last 12 months to N7, while FBN Holdings lost 31.3 percent to N5.45 per share. Both companies will be delisted on November 26, 2019.
However, a total of four new companies will be added to MSCI Frontier Markets Large Cap Index while eight will be delisted.
The three largest additions are Nova Ljubljanska Banka (Slovenia), Ho Chi Minh City Dev Bank (Vietnam) and Commercial Bank Ceylon (Sri Lanka).
While MSCI Frontier Markets Small Cap Index will witness 13 additions and 17 deletions.