Reclassification of Eterna Plc as Medium C Stock

-


 Dealing members are hereby notified on the reclassification of Eterna Plc from Low Priced Stock to Medium Priced Stock as part of its segmentation program.

 The Nigerian Stock Exchange (NSE) quoted companies have been classified into three categories, High Priced, Medium Priced and Low Priced Stocks, based on their market price. This review provided the basis for reclassifying Eterna Plc from Low Priced Stock to Medium Priced Stock.

 For upwards or downwards movement of price to occur on any security that is priced at below N5 and listed on The NSE, stockbrokers are required to trade a minimum volume of 100,000 units of shares and above. Conversely, for securities priced at N5 and above, stockbrokers could move prices of this medium priced stocks with 50,000 units of shares. These Medium Priced stocks are securities that have traded an average of N5 or more per share and below N100 in four out of the last six months period.

 Eterna gained above the N5 mark on 8 January 2018 and trades above N5 up till close of business on 29 June 2018. This indicates that Eterna Plc has traded above N5 in at least 4 out of the last 6 months and therefore would be reclassified from Low price stock to Mid-price stock with effect from today, 16 July 2018.

Comments

Post a Comment

Popular posts from this blog

Wherever You are NOW is Your Decision

-
Image
                                        Photo credit: entrepreneurfail According to research, very few people are successful at anything at first. I included. The reason only a tiny percentage of the population achieves any significant success or wealth through stock is that few are willing to go through the process of what it takes to achieve in the stock market, and there is no shortcut. In fact, everybody has to go through four levels of learning every single time, and often, in the process - fail, regroup and begin again. Most people blame others like government policies, currency fluctuation, political instability, the election for stopping their progress, but in truth, there's only one person who can put on the parking break and that person is YOU. Furthermore, many people drive around with the break on without knowing it, or once awareness arrives, don't know how to lif...
Read more