Capital Hotel Sets Aside N1.6bn To Pay Off Minority Shareholders Ahead Of Exit From Stock Exchange

The owners of Capital Hotel Plc have received approval for its voluntary delisting from the Nigerian Exchange Limited (NGX) after setting aside about N1.64 billion to pay off minority shareholders.

The company has also received approval from the NGX to exit the local bourse, it said in a filing.

Capital Hotel is the parent company of Abuja Continental Hotel, formerly Sheraton Hotel.

NIPCO Plc, a downstream operator in Nigeria’s oil and gas industry acquired 87 per cent or 2.71 billion share of the hotel through its subsidiary, 22 Hospitality Limited which makes it the the new owner, according to its books seen by THE WHISTLER.