By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange (NSE) said on Friday it has removed the shares of cement producer, Lafarge Africa Plc (WAPCO) from 10,000 units market traded equities.

The NSE says the reason for removing Lafarge Africa is that shares of the company has traded below N100 for the past four (4) months within the past six (6) months timeframe.

“WAPCO has traded below N100 for the past 4 months within the past 6 months’ timeframe.  Therefore, we have removed WAPCO from the list of 10,000 units’ market trade price movement equities. Please be guided accordingly,” the NSE said.

The NSE says with reference to Rules and Regulations governing Dealing Members Amendments and Additions (VI) Article 100: Pricing methodology states that for purposes of calculating price movements and price limits, equity securities traded on the Exchange shall be classified in the following way.

“Group A shall consist of equities with a Primary Market Maker that are not classified in Group B; and

Group B shall consist of equities with a Primary Market Maker that are priced above N100.00 per share for at least four of the last six months; or new security listings that are priced above N100.00 at the time of listing on The Exchange,” the NSE added.