General
NSE downgrades Oando to low priced stock
The Nigerian Stock Exchange (NSE) on Thursday downgraded Oando Plc to low priced stock.
The exchange said that Oando had been reclassified to low priced stock from medium-priced stock, effective from Sept. 5.
“This is in compliance to Rule 15.29: Pricing Methodology, Rulebook of The Exchange, 2015 (Dealing Members’ Rules),” the NSE said in a statement by Mr Jospeh Kadiri, Media Relations Officer, Corporate Communications.
It said Oando dropped below the N5 mark on April 30, 2019, and traded below N5 up till close of business on Aug. 30.
“Low Priced Stocks are securities that have traded below N5 per share in four out of the last six months period.
“For upward or downward movements in price to occur on any Low Priced Stock that is priced at below N5 and listed on the NSE, stockbrokers are required to trade a minimum volume of 100,000 units and tick size of N0.01k,” it said.
(NAN)
-
News22 hours ago
FG revokes 924 dormant mining licences
-
News21 hours ago
UK varsity offers £33,150 scholarships to Nigerian MSc applicants
-
News24 hours ago
DStv, GOtv subscriptions hiked five months after initial increase
-
News18 hours ago
EFCC withdraws appeal against order blocking Yahaya Bello’s arrest
-
News8 hours ago
Gombe residents lament 48 hours blackout
-
News8 hours ago
Hadi Sirika spends second night in EFCC custody over money laundering probe
-
News7 hours ago
Blackout: Ogun vows repairs of poles destroyed by heavy rain
-
Metro6 hours ago
Lagos destroys shops in Ajah market, arrests two traders