The Index Governance Committee of the Nigerian Stock Exchange, at the weekend, announced the removal of Cement Company of Northern Nigeria Plc (CCNN) from the All-Share Index and the various indexes, replacing it with the emergent BUA Cement Plc.
This followed the completion of the Scheme of Merger between CCNN and Obu Cement Company Plc, and subsequent delisting has been the bourse.
CCNN has been replaced in the same weight by BUA Cement Plc as constituent security in all the referenced index baskets.
The other indices include NSE Main Board Index; NSE 30 Index; NSE Pension Index; NSE AFR Div Yield Index; NSE MERI Growth Index; NSE Lotus Islamic Index; and NSE Industrial Goods Index.
Such periodic rebalancing of the NSE’s indices, the statement noted, will remain unchanged and not affected by this reconstitution.