NGX reclassifies Fidelity Bank as medium price stock

Nigerian Change Restricted (NGX) has reclassified Constancy Financial institution Plc from small value inventory to medium value inventory.

Rule 15.29 of the Rulebook of The Change, 2015 (Dealing Members’ Guidelines) notes that equities priced above N5 per share for a minimum of 4 of the latest six months of buying and selling, or new safety listings priced above N5 per share on the time of itemizing on NGX are Labeled as Medium value inventory.

Based on NGX, Constancy Financial institution Plc traded above the N5 mark on February 20, 2023 and has remained above the N5 mark up till shut of enterprise on June 30, 2023.

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“This means that Constancy Financial institution has been buying and selling above N5 for a minimum of 4 (4) months within the final six (6) months. Subsequently, it must be reclassified from Small value inventory to Medium value inventory,” the NGX stated.