Nigerian Breweries’ major shareholder, Heineken Brouwerijen B.V, has further increased its stake in the local brewer with the purchase of 194,599 additional units of Nigerian Breweries shares at an average price of N 40.02 per unit.
According to the notification sent to the Nigerian Stock Exchange, which was signed by the Company’s Secretary, Uaboi G. Agbebaku, the purchase was made on the bourse over two transactions on the 4th and 7th of September.
Breakdown of the transaction
- 134,587 shares at N40.02 per unit
- 60,012 shares at N40.01 per unit
Insider Dealings (transactions), both sales and purchases, are often an indication of how shareholders perceive a company’s valuation. It could also mean a possible capital raise or that the majority of shareholders are strengthening their existing holdings.