Heineken acquired 6.9 million shares of Nigerian Breweries for $637,411

The world’s number two brewing group rushed to buy the shares of the Nigerian Breweries group, its Nigerian branch.

The transaction was carried out between August 19 and 21 through the holding company Heineken Brasseries (Brouwerijen). The brewer acquired 6.9 million shares of Nigerian Breweries for a value of 246.12 million nairas (US$ 637,411).

It should be noted that between 11 and 13 August the group had already acquired 274,542 shares, and in total with the last shares acquired the transaction amounts to $669,530.

Nigerian Breweries is the number five producer of beverages quoted mainly in an African stock exchange. In fact, the company is a sure value of the Nigerian Stock Exchange. But its weight on the stock exchange is much lower than its actual company value. That is, $958.9 million against $789 million.

During the first half of 2020 the group suffered the ravages of covid-19. This moment translated into a net profit of 5.3 billion naira. That is, a drop of 60% compared to the first half of 2019.

However, it is expected that the increase in value will continue once the periods of difficulty imposed by the coronavirus have passed.

 

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