Since the announcement of Flour Mill’s Honeywell shares acquisition, the share price of Honeywell Plc has appreciated by 20.65% from N3.39 to N4.09.
At the end of today’s trading session, Honeywell Flour Mills Plc recorded a gain of 9.95%, which can be attributed to buy-interests in the shares of the company inducing a gain of N2.93 billion in market capitalization at the close of trading activities on the stock exchange market.
The shares of the FMCG advanced from N3.72 per share at the start of trading day, to N4.09 per share representing an increase of 9.95% which in monetary terms is N0.37.
Read: How Honeywell intends to pay down its First Bank loans
The buy-interests witnessed in the shares of Honeywell Flour Mills Plc positively influenced the company’s market capitalization from N29.50 billion to N32.43 billion at the end of today’s trading activities, taking the appreciation to N2.93 billion.
Honeywell’s Share performance history
The shares of Honeywell Flour Mills Plc have gained 240.83% from year-to-date, starting the year at N1.20 and currently trading at N4.09.
However, the shares of the company have returned about 289.52% gains for investors who bought them at their 52-week low trading price of N1.05 per share.
Read: First Bank is too big to fail, CBN is happy with investors’ tussle for share ownership – Emefiele
During today’s trading hours, 9,841,846 ordinary shares of Honeywell Flour Mills worth about N40.25 million, were exchanged in 78 executed deals.
In comparison, the shares of Flour Mills Nig Plc appreciated by 1.71% to close at N29.75 at the end of today’s trading session, while NNFM Plc remained unchanged to close at N8.00.
Read: Our First Bank loan is being serviced, reduced by 30% in 2 years – Honeywell Group
What you should know
On Monday, Flour Mills Nig Plc and Honeywell Group Limited announced through a press release that both companies have signed an agreement that will allow Flourmills Nig Plc to acquire 71.69% stake in Honeywell Flour Mills Nigeria Plc for N80 billion.
At the end of today’s trading activities, the NGX All-Share Index and Market capitalization depreciated by 0.68% from the previous trading day, to close at 43,253.01 index points and N22.57 trillion respectively.
However, the NGX Consumer goods Index appreciated by 0.03% from 568.69 points to 568.87 points at the end of today’s trading session.
