La­farge Ce­ment Wapco to join high priced stocks

Daily Trust - - BUSINESS - From Kay­ode Ogun­wale, La­gos

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

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