Fidelity Bank Plc has been reclassified by the Nigerian Exchange Limited (NGX) from a small-price stock to a medium-price stock.
According to Rule 15.29 of The Exchange’s 2015 Rulebook (Dealing Members’ Rules), stocks priced above N5 per share for at least four of the most recent six months of trading, or new securities listings priced above N5 per share at the time of listing on NGX, are classified as Medium-price stock.
Fidelity Bank traded over the N5 mark on February 20, 2023, and has remained above the N5 mark until the close of business on June 30, 2023, according to NGX.
“This indicates that Fidelity Bank has been trading above N5 for at least four (4) months in the last six (6) months. Therefore, it should be reclassified from Small price stock to Medium-price stock,” the NGX said.
1 thought on “Fidelity Bank has been reclassified as a medium-priced stock by the NGX.”