A new listing lit up the T&T Stock Exchange yesterday as First Citizens Bank’s transition to a subsidiary under the First Citizens Group Financial Holdings Limited company took another step as a total of 251,353,562 of FCGFH’s shares were listed on the Trinidad & Tobago Stock Exchange for the first time.
The listing of FCGFH also saw the de-listing of First Citizens Bank limited shares from stock exchange.
The de-listing was pursuant to an order of the securities and exchange commission dated October 11, 2021 made under section 45(1) and 45(2) of the Securities Act, Chapter 83:02.
The order was granted pursuant to an application for the de-listing, which was made by the exchange as part of First’s corporate legal restructure of the First Citizens group.
The corporate restructure of the legal entities within the group was voted on and approved by the shareholders of First at an Annual General meeting held on June 30, 2021.
The shareholders however retained shares in FCGFH to the same proportion that they held in FCB previously.