Heineken Brouwerijen B.V Acquires More Stakes in Nigerian Breweries
Heineken Brouwerijen B.V, a foreign substantial shareholder, has acquired another ordinary share in Nigerian Breweries Plc to increase its stakes in the company.
Heineken Brouwerijen B.V carried out the acquisition in three different transactions in August.
The statement signed by Uaboi G. Agbebaku, Company Secretary, Nigerian Breweries Plc, showed that Heineken Brouwerijen B.V first bought 12,000 shares at N36.09 on August 27, 2020.
On August 28 and 31, Heineken Brouwerijen B.V purchased another 158,882 shares and 21,521 shares at N37.51 and N37.78 per unit, respectively.
Aggregate information showed Heineken Brouwerijen B.V purchased a combine 192,403 units at an average price of N37.13 per unit.
In recent months, Heineken Brouwerijen has been increasing its stake in Nigerian Breweries, another assurance of a solid future.
Stock Market Gains as Dangote Cement, Mobil, Others Closed in the Green
Dangote Cement, Mobil, Others Boost Nigerian Stock Exchange
The Nigerian Stock Exchange closed in the green on Thursday as the stocks of mobil, dangote cement and others closed higher.
Investors traded 359.307 million shares valued at N3.873 billion in 3,576 transactions during the trading hours of Thursday.
The market capitalisation of listed equities grew to N13.581 trillion while the NSE All-Share Index gained 0.79 percent to close at 25,987.14 basis points. See the details below.
Top Trades by Volume
Insider Dealings: Tony Elumelu and Family Move to Completely Takeover UBA
Tony Elumelu, Relatives Increase Stake in UBA
In eight different filings with the Nigerian Stock Exchange (NSE), the Board Chairman, UBA, Tony Elumelu and relatives increased stake in United Bank for Africa (UBA) in a move that suggested confidence in the lender’s future and an opportunity to increase Elumelu family’s stake in one of Africa’s largest banks.
In one of the filings, Awele Elumelu, one of the relatives purchased 156,097 shares at N5.9999 per share on Tuesday, September 22, 2020 in Lagos.
This was followed by Nneka Elumelu and Ogechukwu Elumelu, relatives of the Chairman that acquires 106,464 shares and 127,673 shares at N6.0 per share per unit on the same day in Lagos.
Ogechukwu Elumelu added 127,219 shares and another 106,428 shares at N6.0 per share to take her total purchases to 361,323 shares.
Onyinye Elumelu bought 107,250 shares at N6.0 per share while Toby Onyemaechi Elumelu purchased UBA shares in two transactions, 7,460 shares and 7,452 shares at N6.0 per share.
Tony O. Elumelu, CON, the Board Chairman of UBA, purchased 4,817,855 shares at N5.9999 per share.
Likely scenario for an all out purchases, the family may want to capitalise on the low stock price given the current weak stock market outlook or there is an underground deal or detail they are privy to as witnessed during access bank Zambian acquisition a few months back.
The move may also be a gift to relatives from one of Africa’s richest men.
Stock Market Transactions Dip by 8.5% in August as Foreign Investors Take Back Seat
Foreign Investors Pullback as Transactions’ Value Dip by 8.5% in August
The total value of transactions carried out on the Nigerian Stock Exchange (NSE) in the month of August stood at N94.5 billion or US$244.27 million, representing a decline of 8.49 percent from N103.21 billion or $265.55 million posted in July.
In the NSE’s Domestic and Foreign Portfolio Investment report released for the month of August, total transactions decreased by 22.58 percent when compared to N121.99 billion achieved in August 2019.
The report noted that the total transactions executed by domestic investors decreased by 19.16 percent from N68.62 billion in July to N55.47 billion in the month of August 2020.
However, foreign transactions rose by 12.69 percent to N38.98 billion, up from N34.59 billion posted in July.
A further breakdown of the report showed the total value of transactions executed by local investors outperformed transactions carried out by their foreign counterparts by 18 percent.
Accordingly, domestic investors’ participation stood 59 percent while foreign investors account for 41 percent of all the transactions performed during the month.
Also, the total capital inflow from domestic investors stood at N29.49 billion in the month under review while foreign investors injected N17.66 billion into the bourse.
Domestic investors withdrew N25.98 billion in August, more than the N21.32 billion withdrew by foreign investors.
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