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[XNSA]>> RECLASSIFICATION FROM LOW PRICE STOCK GROUP TO MEDIUM PRICE STOCK GROUP
(Source: NSE, Date: 08-Mar-2021)
 Reclassification of International Breweries Plc, Ecobank Transnational Incorporated and Northern Nigeria Flourmills Plc from Low Price Stock Group to Medium Price Stock Group

Dealing members are hereby notified of the reclassification of International Breweries Plc, Ecobank Transnational Incorporated and Northern Nigeria Flourmills Plc from the Low Priced Stock Group to the Medium Priced Stock Group, in line with The NSE? Pricing Methodology framework. 

Equity securities of Quoted Companies on The Nigerian Stock Exchange (NSE) 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? specified price band to be classified into the category. Accordingly, the review of International Breweries Plc, Ecobank Transnational Incorporated and Northern Nigeria Flourmills Plc stock prices trade activity over the most recent six month period provides the basis for reclassifying the securities from the Low Priced Stock Group to the Medium Priced Stock Group. This reclassification also necessitates the attendant change in the tick size change from N0.01 kobo to N0.05 kobo - in line with Rule 15.29: Pricing Methodology, Rulebook of The Exchange, 2015 (Dealing Members?Rules).

International Breweries Plc, Ecobank Transnational Incorporated and Northern Nigeria Flourmills Plc stock price appreciated above the N5 price level on 16th October 2020, 27th October 2020 and 30th October 2020 respectively and traded above N5 up till close of business on 18th February 2021, 1st March 2021 and 1st March 2021 respectively. This indicates that International Breweries Plc, Ecobank Transnational Incorporated and Northern Nigeria Flourmills Plc stock prices have traded above N5 in the last 6 months. Resultantly, International Breweries Plc, Ecobank Transnational Incorporated and N
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