Lafarge Cement Wapco to join high priced stocks
The Nigerian Stock Exchange (NSE) has announced Lafarge Cement WAPCO Nigeria Plc as one of the high priced stocks.
These high priced stocks are securities that have traded an average of N100 or more per share in four out of the last six months period.
The NSE concluded its review of the prices of stocks, as part of its plans to improve liquidity and deepen the market, with the announcement of a new security that will be joining the league of high priced stocks.
Head, Market Operations of the NSE, Mr. Ade Ewuosho, confirmed that way back, to move the price of any stock upwards or downwards, the brokers needed to have a volume of 50,000 shares and above.
However in September 2012, the Exchange introduced a pilot programme for its new market structure with the rollout of market making, where stockbrokers could move prices of some high priced stocks with 10,000 shares.
Justifying the inclusion of Lafarge Cement WAPCO Nigeria Plc in the high priced stocks Head, Market Surveillance of the NSE, Mr. Abimbola Babalola, said a review