Nigerian Breweries Plc, a leading brewing company in Nigeria on Friday disclosed a share dealing by an insider involving its core foreign investor, Heineken Brouwerijen B.V that purchased 274,542 units at N35.76 per unit (average) which amounted to N9,817,621.92
In a notification signed by Uaboi G. Agbebaku, Company Secretary released by the Nigerian Stock Exchange, Heineken Brouwerijen B.V made the purchase between 11th -13th August 2020 while Chief Jamodu purchase was on 13th August 2020, both in transaction done at NSE, Lagos.
Breakdown of the transactions
Heineken Brouwerijen B.V bought these additional shares at three different prices and volumes between August 11 to 13, 2020. These transactions were executed at the stock exchange in Lagos and they averagely amounted to N9.8 million.
- The foreign investor bought 125,964 shares at a unit price of N33.92, amounting to N4.3 million
- Heineken Brouwerijen B.V added 62,339 units at N36.35 each and this amounted to N2.3 million and
- Lastly, it acquired additional 86,239 stocks at N37.00 per unit, resulting in N3.2 million.
Nigerian Breweries’ Shareholding Structure
Prior to this transaction, Heineken N.V Group still holds majority shareholding (55.95%) of the Company through its 100% owned subsidiaries – Heineken Brouwerijen B.V (37.76%), Distilled Trading International B.V (15.47%) and Heineken International B.V (2.72%) as at 31 December 2017. Stanbic Nominees Nigeria Limited (13.28%) and other individuals & institutional investors (30.77%) held the remaining issued shares as at the same date.
Breakdown of the transaction
Nigerian Breweries recently released its Q2’20 results, reporting a 17.5% q/q slump in topline to ₦68.7 billion. Despite a better than expected performance amid a significantly tougher operating environment, the weaker Q2 performance took H1’20 Revenue to ₦151.9 billion, a 10.8% step-down from its H1’19 performance.
Despite 51 transactions involving 148,636 shares valued at N5,455,765.10, there was no movement on the share price of NB on the NSE on Friday at N36 per share.
Nigerian Breweries Plc is the pioneer and largest brewing company in Nigeria. It serves the Nigerian market and exports to other parts of West Africa.