Connect with us

Business

Stanbic IBTC sells shares in Guinness Nigeria, as new investor enters

Published

on

Stanbic IBTC Nominees Limited, a substantial shareholder of Guinness Nigeria, has reduced its stake in the brewer, as new investors take up shares in the alcohol producer.

Ripples Nigeria gathered that Stanbic IBTC Nominees sold off 27.93 million ordinary shares from its holdings within the First Half of 2021, cutting its stake to 5.44 percent.

The investment company held 147.18 million shares as of Full Year 2020, representing 6.71 percent control of Guinness Nigeria, but the total shares currently held is down to 119.25 million.

During the same period, Ripples Nigeria gathered from Guinness Nigeria’s First Half financials for 2021, that Mutima Opportunity Fund acquired 112,502,111 shares.

Read also: Stanbic IBTC launches single sign-on feature on mobile app

The company held no share in 2020, but now holds 5.14 percent stake in Guinness Nigeria, making it one of the four substantial shareholders in the brewing firm which holds more than 5 percent.

There were no changes in the 50.18 percent stake held by majority shareholder, Guinness Overseas Limited (a subsidiary of Diageo Plc, makers of Guinness Foreign Extra Stout, Guinness Smooth, Malta Guinness, Harp Lager, Smirnoff, Orijin, Gordons).

Also, Atalantaf Limited, another subsidiary of Diageo, held on to its 7.84 percent shareholding – both Guinness Overseas and Atalantaf make up the foreign substantial shareholders in Guinness Nigeria.

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

If you are motivated and passionate about building a global society, founded on justice, equity, fairness, transparency, accountability and superior knowledge, kindly consider donating to Ripples Nigeria’s solutions journalism.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now

Investigations