Nestlé S.A. acquires extra shares in Nestlé Nigeria value N2.92 billion

The prevailing sell-offs on the Nigerian Stock Exchange has prolonged the loss within the share value of key FMCG corporations in addition to their market capitalization on the Nigerian Stock Exchange.

Data tracked on the NSE web site from the shut of commerce on the third of March until the shut of buying and selling actions on the native bourse on the 4th of March 2021, revealed that the market capitalization of those FMCG corporations declined by N15.2 billion in a single day.

FMCG corporations declined by N15.2 billion in a single day.

Northern Nigeria Flourmills (NNFM)

NNFM is a flour milling firm based in October 1971, with key concentrate on the enterprise of milling wheat, maize, and related grain. The firm printed one of many highest loss on the Exchange on Thursday.

The share value of the flour milling firm dropped by 9.97% to shut the day decrease at N6.32. This transfer considerably affected the market capitalization of the corporate, which culminated in a lack of N125 million in worth.

Champion Breweries (CHAMPION)

Champion Breweries Plc has been within the information for some time, following the acquisition of 1,903,609,538 unusual shares of the corporate by Heineken by way of its wholly-owned subsidiary, Raysun Nigeria Limited, at a value of N2.6 per share.

This transfer noticed the share value of the brewing firm surge from N0.93 on January 8 2021, to N3.76 on the 2nd of February 2021. Since then, the share value of Champion Breweries has continued to endure important losses.

At the shut of commerce on NSE yesterday, Champion Breweries shares suffered a 9.19% decline to shut the day decrease at N1.68.

This transfer considerably affected the market capitalization of the brewer, taking its loss on the trade in a single day to N1.331 billion.

This decline is a possible alternative for cut price hunters to key in as soon as extra, with the expectation to get pleasure from a acquire of about 55%, ought to Heineken launch a takeover bid of N2.60 per share for the steadiness of 17.3% or 1,351,954 items of Champion Breweries shares with shareholders.

Honeywell Flour Mill (HONYFLOUR)

The share value of Honeywell Flour Mills Plc has suffered main declines in latest instances. The flour milling firm, who can also be an essential a part of the Honeywell Group -a foremost indigenous Nigerian conglomerate engaged in choose companies in key sectors of the Nigerian economy- has seen its shares gone from being valued at N1.40 in February to buying and selling at N1.20 in direction of the tip of the identical month.

Worthy of observe is the truth that the shares of the corporate throughout buying and selling actions on NSE yesterday, went as little as N1.13 per share, earlier than shopping for pressures on the trade pushed the worth again to N1.20 per share.

This transfer considerably affected the market capitalization of the indigenous flour milling firm because it roughly misplaced N397 billion in a single session.

Dangote Sugar Refinery (DANGSUGAR)

Dangote Sugar has seen its share value decline by greater than 8% since declaring a 33% progress in its bottom-line in 2020. The firm additionally proposed a greater than the anticipated dividend of N1.50, 36.36% increased than 2019 dividend (N1.10).

However, regardless of this spectacular efficiency, Dangote Sugar continues to be punished on the trade, as cautious buyers offload the shares of the corporate, to hunt for yields within the cash market.

At the shut of commerce on NSE yesterday, Dangote Sugar shares suffered a 6.35% decline, to shut the day valued at N16.25.

The sell-off within the shares of Dangote’s built-in sugar enterprise on the ground of the Nigerian Stock Exchange yesterday culminated right into a lack of N13.4 billion in a single day.