The Nigerian Stock Exchange (The NSE or The Exchange) is pleased to announce the reclassification of Oando Plc from Medium Priced Stock to Low Priced Stock effective Thursday, September 5, 2019.
This is in compliance to Rule 15.29: Pricing Methodology, Rulebook of The Exchange, 2015 (Dealing Members’ Rules). Oando dropped below the N5 mark on April 30, 2019, and traded below N5 up till close of business on 30 August 2019.
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 N0.01kobo.
About THE NSE
The Nigerian Stock Exchange, a company limited by guarantee, services the largest economy in Africa and is championing the development of Africa’s financial markets. The Exchange offers listing and trading services, licensing services, market data solutions, ancillary technology services, and more.
The Nigerian Stock Exchange continues to evolve to meet the needs of its valued customers, and to achieve the highest level of competitiveness. It is an open, professional and vibrant exchange, and the Entrepreneurial Growth hub of Africa. The Nigerian Stock Exchange aspires to be Africa’s foremost securities exchange, connecting Nigeria, with the rest of Africa and the world