Post by Idowu Anthony-Ajileye (@dobmarch8)

#NGX

Reclassification from Medium Price Stock Group to High Price Stock Group

Trading License Holders are hereby notified of the reclassification of the following Securities from the medium-Priced Stock Group to the High-Priced Stock Group, in line with NGX’s Pricing Methodology framework.

1)Nigerian Aviation Handling Company Plc
2)Stanbic IBTC Holdings Plc
3)UAC of Nigeria Plc
4)Unilever Nigeria Plc

Equity securities of Quoted Companies on The Exchange (NGX) are classified into three Stock Price Groups or Categories – High-Priced, Medium Priced, and Low-Priced Stocks, based on their market price. In this regard, securities must have traded for at least four out of the most recent six-month period within a Stock Price Group’s specified price band to be classified into the category.

Accordingly, a review of stock prices and trade activities over the most recent six-month period provides the basis for reclassifying the securities from the Medium-Price Stock Group to High-Price Stock Group. This reclassification also necessitates the attendant change in the tick size change from N0.05 kobo to N0.10 kobo - in line with Rule 15.29: Pricing Methodology, Rulebook of The Exchange, 2015 (Trading License Holders’ Rules).

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