Unilever Overseas Holdings acquires N352 million worth of shares of Nigerian subsidiary
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Stock Market
Shares of Dangote Sugar Refinery gains N18.8 billion in the first trading week of 2021
Dangote Sugar has gained N18.8 billion in the first trading week of 2021, as investors position for the shares ahead of the earnings season.
Stock Market
Unilever Overseas Holdings acquires N352 million worth of shares of Nigerian subsidiary
Over 27 million shares of Unilever Nigeria Plc has been acquired by Unilever Overseas Holdings.
Unilever Overseas Holdings, the parent company of Unilever Nigeria Plc, has acquired over 27 million shares of its Nigerian Subsidiary, worth N352,036,698.
This is according to a “Notification of Share Dealing by an Insider” signed by the Company Secretary, Abidemi Ademola, and published on the NSE website.
It is important to note that the notification is compliant with The Exchange’s policy on insider dealing.
The statement revealed that the parent company increased stakes in its Nigerian subsidiary with the acquisition of 27,079,746 additional units of the company’s shares, in a single transaction, at an average share price of N13 per share.
This puts the total consideration for the shares purchased by Unilever Overseas Holdings on the 11th of January 2021 at N352,036,698.
Why this matters
- Dealings by insiders of listed companies are corporate actions to be disclosed by the management of the company, this is in compliance with NSE’s policy on insider dealing, as the disclosure is key in the effort to ensure transparency and reinforce the trust of the investing public.
- The purchase of the shares of Unilever Nigeria Plc further cements Unilever Overseas Holdings’ position as a substantial shareholder of the company.
What you should know
- It is important to note that as of 30th September 2020, Unilever Overseas directly owned 74.03% of the 5,745,005,417 issued and fully paid shares of Unilever Nigeria Plc.
- However, with the recent purchase, Uniliver Nigeria Plc is still compliant with the Free float requirement for the Main Board of the Nigerian Stock Exchange.
Stock Market
United Capital Plc CEO purchases additional 1.5 million shares worth N8.03 million
Mr. Ashade has spent the sum of N8.03 million on the purchase of additional 1.5 million shares United Capital Plc.
The CEO of United Capital Plc, Mr. Peter Ashade has maintained a 3-month buying streak, acquiring an additional 1.52 million units of the firm’s shares worth N8.03 million.
This is according to a recent notification signed by the firm’s secretary, Leo Okafor and forwarded to the Nigerian Stock Exchange market today, as seen by Nairametrics.
The recent transaction which took place on January 20, 2021 saw the United Capital boss purchase an additional 1,515,092 units of the firm’s share at N5.30 per unit, totalling N8,029,987.60.
Nairametrics gathered that the recent transaction will raise the total number of shares purchased by the CEO in the last three months by an additional 4,669,387 units.
What you should know:
- Nairametrics earlier reported the purchase of an additional 1.28 million units of United Capital Plc shares by its CEO, Peter Ashade and the CFO.
- Ashade had earlier purchased an additional one million units of the company’s shares, worth N5.17 million.
- As at the time of reporting this, United Capital Plc share price ended trading at N5.39, down by 0.19%.
- The report of the recent transaction is in line with NSE policy on insider transactions.
Stock Market
Lafarge gains N111.1 billion on NSE in 14 trading sessions
The cement manufacturer gained an additional N1.45, thus extending year-to-date gains on the NSE to N111.1 billion.
Lafarge Africa Plc continues the streak of gains on the Nigerian Stock Exchange (NSE) today, as shares of the cement manufacturer gained an additional N1.45, thus extending year-to-date gains on the NSE to N111.1 billion.
This was uncovered by Nairametrics after tracking the performance of the shares of the company on the floor of the Nigerian Stock Exchange, from the open of trade on the 4th of January 2021, till the close of trade today on The Exchange.
A preview of the performance of the cement manufacturer on NSE revealed that the shares of the company which opened trading activities this year at N21.05 per share have rallied by 32.78% at the back of renewed investors’ buying interests, to set a 52-week record high price N27.95 at the end of today’s trading session.
Checks by Nairametrics revealed that Lafarge has gained N111.1 billion on NSE this year, as investors continue to bid the shares of the company higher, owing to the robust valuations of the company and its fundamental strength which has made the company investors’ delight at the current price.
It is important to note that the buying interest in Lafarge shares saw the market capitalization of the company increase from N339.1 billion to N450.2 billion alone this year.
What you should know
- At the end of today’s trading session, Lafarge gained an additional N1.45 per share, which translates to 5.47% increase, thus driving the shares of the company to close at a record 52-Week high price of N27.95, with 22.65 million shares of the company worth over N620.53 million, exchanged in 439 deals.
- Nairametrics reported that the Board of Lafarge Africa Plc resolved to sell off its 35% shareholding in Continental Blue Investment Ghana Limited, in order to cut down on costs impacting the Group’s profitability.
