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Nestle S.A. Increases Stake in Nestle Nigeria Plc

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Nestle S.A. Purchased Additional Stake in Nestle Nigeria Plc

Nestle S.A., a majority shareholder in Nestle Nigeria, has once again increased its stake in Nestle Nigeria Plc.

In a statement signed by Bode Ayeku, Company Secretary, Nestle Nigeria Plc, and released through the Nigerian Stock Exchange (NSE), Nestle S.A Plc purchased additional shares of 229,697 in Nestle Nigeria Plc on November 9th, 2020 in Lagos, Nigeria.

Nestle S.A. bought the 229,697 shares at N1,249.65 per unit share. Bringing total investment to N287.041 million. See the details below.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

Nigerian Stock Exchange

Japaul Gold and Ventures Extends Gains by 56.70 Percent Last Week Despite Uncertain Mining Deal

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Japaul Gold and Ventures Extends Gains by 56.70 Percent Last Week Despite Uncertain Mining Deal

Investors don’t seem to be slowing down on Japaul Gold and Ventures Plc after the company announced it was investing in H&H Mines Limited in November 2020 and even changed its name from Japaul Oil and Maritime Services Plc to Japaul Gold & Ventures Plc.

The price of the company’s share gained 55 kobo or 56.70 percent from 97 kobo in the previous week to N1.52 per share last week. The largest gain per single stock on the Nigerian Stock Exchange last week.

Mutual Benefits Assurance Plc followed with 50 percent gain or 14 kobo from 28 kobo per share to 42 kobo per share.

Japaul Gold and Ventures Plc Uncertainties and Risks

Despite a series of complications highlighted by Japaul Gold and Ventures Plc concerning the deal in November, investors seem to be blinded to the level of uncertainties attached to a deal that depends on the success of proposed fundraising to be closed.

The company had announced that it has gotten approval to invest or acquire shares in H&H Mines Limited after its fundraising exercise. Meaning, a failure or suspension of fundraising due to COVID-19 second phase could derail or delay Japaul’s plans to acquire or invest in the company.

Another shocking statement made by Japaul was that the last lap of exploration works will allow the company to know the degree of minerals reserve contained in the mine, meaning it does not know precisely before seeking approval from H&H Mines Limited.

Also, Japaul is not certain it would be carried along, according to an excerpt from the company’s December statement.

“Since Japaul will eventually be part of H&H Mines Limited, it was necessary that Japaul is carried along on the kind of Contract of Drilling to be entered into, and that was why the signing of the Drilling Contract between the Chinese Company and H&H Mines Limited was concluded at Japaul’s Head Office,” the company stated.

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Peter Oladele Ashade Invests N5.17 Million in United Capital Plc

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Peter Oladele Ashade Invests N5.17 Million in United Capital Plc

Peter Oladele Ashade, a director in United Capital Plc, has invested N5.17 million in the company through share acquisition.

In a disclosure statement filed by United Capital Plc and signed by Leo Okafor, Company Secretary, the management of the company said Peter Oladele Ashade bought 1,000,000 shares of the company at N5.17 per share on January 14th, 2021.

The transaction valued at N5.17 million took place at the Nigerian Stock Exchange (NSE). See the details of the transaction below.

Peter Oladele Ashade

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Nigerian Stock Exchange

Nigerian Stock Investors Gained N552 Billion Last Week

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Nigerian Stock Investors Gained N552 Billion Last Week

Investors in the Nigerian Stock Exchange (NSE) gained N552 billion last week despite a negative first week of the year.

Investors exchanged 3.447 billion shares worth N32.725 billion in 30,327 deals during the week, against a total of 3.394 billion shares valued at N19.867 billion that exchanged hands in 26,808 transactions in the previous week.

In terms of volume traded, the Financial Services Industry led the activity chart with 1.714 billion shares valued at N13.352 billion exchanged in 15,102 deals and contributed 49.74 percent and 40.80 percent to the total equity turnover volume and value, respectively.

The Construction/Real Estate Industry followed with 768.131 million shares worth N4.203 billion in 430 deals. Conglomerates Industry came third with a turnover of 279.799 million shares estimated at N578.694 million in 1,199 deals.

The three most traded equities during the week were UPDC Real Estate Investment Trust, Mutual Benefits Assurance Plc and Transnational Corporation of Nigeria Plc. Together, the three accounted for 1.224 billion shares worth N4.459 billion in 929 deals and accounted for 35.52 percent and 13.63 percent to the total equity turnover volume and value, respectively.

The NSE All-Share Index gained 2.63 percent or 1,055.92 index points from 40,120.22 index points posted in the previous week to 41,176.14 index points.

While the market value of listed stocks expanded by the same 2.63 percent or N552 billion from N20.978 trillion recorded a week earlier to N21.530 trillion last week.

The Nigerian Stock Exchange has gained 2.25 percent in 2021 so far.

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