Heineken Brouwerijen B.V buys more units of Nigerian Breweries Plc

By
Esan Bolaji
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Heineken Brouwerijen B.V Acquires more units of Nigerian Breweries Plc
Photo by Jinen Shah on Unsplash

Heineken Brouwerijen B.V, a major shareholder of the largest brewer in Nigeria, has increased its stake in Nigerian Breweries, with the purchase of 144,965 additional units of Nigerian Breweries shares. This was disclosed by the company in a notification sent to the Nigerian Stock Exchange, which was seen by Brand Spur.

According to the notification, which was signed by the Company’s Secretary, Uaboi G. Agbebaku, the purchase was made on the bourse over two transactions on the 10th & 26th August, 2020.

The analysis of the transactions

144,965 additional units of Nigeria Breweries shares were purchased at an average price of N34.21 is put at N 4,959,252.65.

  1. 88,102 shares at N32.39 per unit
  2. 56,863 shares at N36.02 per unit
Insider 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.

Breakdown of the transactions:

Heineken Brouwerijen B.V Acquires more units of Nigerian Breweries Plc
SOURCE: NSE