The Nigerian Stock Exchange (NSE) on Tuesday reclassified Nigerian Breweries stock from its special status of high-priced stock to medium-priced stock after the leading brewer’s stock price fell below the required threshold for continuing to be held as a high-priced stock.

In a circular, the Exchange said that a review of Nigerian Breweries price trade activity in the last six months provided the basis for the reclassification of the company’s stock from high-priced to medium-priced.

The NSE classifies quoted companies into three categories, high-priced, medium-priced and low-priced, based on their market price.