The investing community has been notified of the reclassification of International Breweries Plc from Low Price Stock Group to Medium Price Stock Group. This is in line with The NGX’s Pricing Methodology framework. The price of International Breweries is currently N9.50.
Equity 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 International Breweries Plc 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.
Currently trading at N9.50, the share price of International Breweries has touched a high of N9.80 and a low of N3.65.