By Peter OBIORA InvestAdvocate
Lagos (INVESTADVOCATE) – The Nigerian Stock Exchange (NSE) Wednesday has added two (2) new Stocks to the list of its Market Making Stocks bringing it to a total of 30 to date.
This is contained in a Statement by Wole Tokede, Head, Media Relations of the NSE and made available to www.investadvocateng.com in Lagos Nigeria.
The two (2) new stocks include 7up Bottling Company Plc and UAC-Property Development Company Plc.
According to the NSE, the two stocks from the Consumer Goods and Construction/Real Estate Sectors of The Exchange respectively will be added on Thursday, November 1, 2012.
“The introduction of the new stocks is in line with the phased approach of bringing in additional stocks from the list of stocks in the baskets of Market Makers on The Exchange, gradually†the Statement said.
The Nigeria’s Exchange has said at the inception of the initiative on September 18 2012, that all the stocks quoted on the Exchange that are trading above par value will be added to the Market Making initiative over a period of six months.
Since the initiative kicked off with 16 stocks, twelve (12) other stocks had been added at different times. The two newly added stocks bring the number to 30.
The 30 stocks covered by the initiatives now are: PZ Cussons Nigeria Plc; Nigerian Bag Manufacturing Company Plc; Presco Plc; International Breweries; Lafarge Wapco; Fidson Healthcare Plc; Redstar Express Plc; Zenith Bank Plc; Sterling Bank Plc; D.N.Meyer; Diamond Bank; FCMB; Fidelity Bank Plc; Nigerian Breweries Plc; Guaranty Trust Bank Plc and UAC Nigeria Plc. (UACN).
Others are: Access Bank Plc; Academy Press Plc; Custodian & Allied Insurance Plc; First Bank Plc; Dangote Sugar Plc; Union Bank Plc; NASCON Plc; Nestle Nigeria Plc; AIICO Insurance Plc; United Bank for Africa Plc; Ecobank Transnational Plc; Skye Bank Plc; 7Up Plc and UAC Property Development Plc.
