The investing community has been notified that the share price of Honeywell Flour Mill Plc has been reclassified from Low Price Stock Group to Medium Price Stock Group. This is in line with the Nigerian Exchange (NGX) Pricing Methodology framework.
Securities of Quoted Companies on The Exchange (NGX) are classified into three Stock Price Groups or Categories. High-Priced, Medium-Priced, and Low-Priced Stocks, based on their market price. In this regard, securities must have traded for at least four out of the most recent six-month period within a Stock Price Group’s specified price band to be classified into the category.
Accordingly, a review of Honeywell Flour Mill Plc’s stock price and trade activities over the most recent six-month period provides the basis for reclassifying the security from the Low-Priced Stock Group to the Medium-Priced Stock Group. This reclassification also necessitates the attendant change in the tick size change from N0.01 kobo to N0.05 kobo – in line with Rule 15.29: Pricing Methodology, Rulebook of The Exchange, 2015.