NSE releases guidelines on new par value new rule

The Nierian Stock Exchange has announced new classification of equities prive movement pursuant to the new rules on par value movement of equities.

The NSE said that the classification was “Pursuant to the implementation of the approved amendments to the Pricing Methodology 1and par Value Rules, as contained in Rules 15.29 and 15.30 respectively of the Rulebook of The Exchange, 2015 (Dealing Members’ Rules), (“the Rules ”), this report which is based on market values of equities as at December 31, 2017

The guidelines for the implementation of the Rules effective January 29, 2017 ,are in three classifications.

Group A stipulates a minimum quantity of 10,000 attracts N0.10 growth and within a rice range and trading period of N100.00 or above, for 4 of the last 6 months, or new security listings priced at N100.00 or above at the time of listing

Group B takes care of stocks with minimum 50,000 units to attract N0.05 increase within price range of N5.00 or above but lower than N100, for 4 of the last 6 months, or new security listings priced at N5.00 or above but lower than N100 at the time of listing.

While group C takes cares of equities with minimum 100,000 units to attract N0.01 or above but lower than N5, for 4 of the last 6 months, or new security listings priced at N0.01 or above but lower than N5 at the time of listing

Bonny Amadi