July 4, 2023/NGX
Nigerian Exchange Limited (“NGX” or “The Exchange”), the sustainable exchange championing the development of Africa’s largest economy, has announced the results of its half year market index review for the following indices – NGX 30; NGX Lotus Islamic; NGX Pension; Corporate Governance Index; Afrinvest Bank Value Index; Afrinvest Dividend Yield Index; Meristem Growth Index; Meristem Value Index; and the five Sectoral Indices of The Exchange – NGX Banking, NGX Insurance, NGX Industrial, NGX Consumer Goods and NGX Oil & Gas.
The review has led to the entry and exit of some companies from several indices which took effect at the open of the market on Monday, 3 July 2023. Below are the incoming and exiting companies in the various indices:
Indices Title | Incoming | Exiting |
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NGX 30 Index | · Geregu Power Plc · Sterling Financial Holding Plc | · Custodian Investment Plc · Wema Bank Plc |
NGX Consumer Goods Index | · None | · None |
NGX Banking Index | · None | · Union Bank Nigeria Plc |
NGX Insurance Index | · International Energy Insurance Plc | · Universal Insurance Plc |
NGX Industrial Index | · None | · None |
NGX Oil & Gas Index | · None | · None |
NGX Pension Index | · None | · None |
NGX Lotus Islamic Index | · Nigerian Aviation Handling Company (NAHCO) Plc | · None |
Corporate Governance Index | · None | · None |
Afrinvest Bank Value Index | · None | · None |
Afrinvest Div Yield Index | · SFS Real Estate Investment Trust · Tripple Gee and Company Plc | · Red Star Express Plc · United Capital Plc |
Meristem Growth Index | · NASCON Allied Industries Plc · STANBIC IBTC Holdings Plc · TOTAL Energies Marketing Nigeria Plc | · FBN Holdings Plc · Nigerian Breweries Plc |
Meristem Value Index | · Seplat Energy Plc | · CONOIL Plc |
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Designed using the market capitalization methodology, the indices are rebalanced on a semi-annual basis on the first business day in January and in July respectively. NGX indices are developed to allow investors efficiently track market movements and properly manage investment portfolios.
NGX continues to blaze the trail on the path to becoming Africa’s foremost securities exchange with innovation and product development that deepens the market and boosts liquidity, thus connecting Nigeria, Africa and the world.
The compiler of the indices maintains the right to modify the circulated selection above in connection with any mergers, takeovers, suspension or resumption of trading or any other company structure changes during the period before the effective date of the annual review.
