July 22, (THEWILL) – The Nigerian Exchange Limited (NGX) has reclassified Fidelity Bank Plc as Medium price stock.
Rule 15.29 of the Rulebook of The Exchange, 2015 (Dealing Members’ Rules), noted that equities priced above N5 per share for at least four of the most recent six months of trading, or new security listings priced above N5 per share at the time of listing on NGX are Classified as Medium price stock.
According to NGX, Fidelity Bank Plc traded above the N5.00 mark on 20 February, 2023, and has remained above the N5 mark up until close of business on 30 June, 2023.
This indicated that the bank has been trading above N5 for at least four (4) months in the last six (6) months.
The NFX, therefore, reclassified Fidelity Bank from Small price stock to Medium price stock.
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