Guinness loses N1bn amid gains by rival, Nigerian Breweries
Guinness Nigeria shareholders saw their rival, Guinness, gain as they lost about N1 billion during the same period. The end of trading last week showed investors seemed to be more interested in Nigerian Breweries compared to Guinness.
Analysis of Guinness trading activities showed investors priced its stock low at the capital market, causing the share price to decline by -0.17 percent, from Monday’s N29.05 per share to N29 per share.
According to data from the Nigerian Exchange, share price of Guinness traded flat from Tuesday to Friday, as investors were not willing to raise their offering price for the producer of Orijin and Harp Lager beer.
Read also: WIMBIZ founder, Omobola Johnson, appointed Guinness Nigeria board chairman
What seemed like a slight drop caused investors about N1 billion, as the company’s market capitalisation dwindled to N63.52billion from N64 billion, which it opened last week’s market with.
The reduction in Guinness stock value occured at a time shareholders at Nigerian Breweries gained N20 billion, following an increase in market value. Ripples Nigeria had reported the company was up by 4.46 percent.
Nigerian Breweries’ market value had settled at N467.81 billion by end of trading last week Friday, against the N447.8 billion it ended with two weeks ago, deflecting increased investors interest in the company’s stock.
As competition between the largest and second largest market shareholders intensifies among consumers, they are also jostling for investors interest in the capital market.
By Fakoyejo Ayodeji…
Join the conversation
Support Ripples Nigeria, hold up solutions journalism
Balanced, fearless journalism driven by data comes at huge financial costs.
As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.
If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.
Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.
SPECIAL REPORT: Untold story of how inconsistent salary payment frustrates Cross River road sweepers
In this report, ARINZE CHIJIOKE chronicles the pains of street sweepers in Cross River State, and how inconsistent salary payment...
INVESTIGATION: How insider abuse, shoddy handling of contracts by non-existent firms hamper teachers’ productivity in Kano
In efforts to improve productivity of teachers in public schools in Kano State, the state’s Ministry of Education, disbursed over...
A tale of Kwara public school where pupils learn under the tree without chalkboards
“You cannot make people learn. You can only provide the right conditions for learning to happen.” – Vince Gowmon But...
SPECIAL REPORT: Indiscriminate waste dumps, open defecation pose threat of epidemic in Kwara as govt slow to act
Forty three-year-old Bilikis Abdulrahman covered her pineapple fruit she is selling inside a white bucket container. This, she does to...
SPECIAL REPORT: Women displaced by conflict in North-Central Nigeria become farm helps to survive
Displaced women finding refuge in Abagena camp for Internally Displaced Persons (IDP) camp in Makurdi, Benue State have resorted to...