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.

Source : Media


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