Nestlé S.A., the majority shareholder in Nestlé Nigeria Plc has increased its stake in the Nigerian unit through equities purchases valued in excess of N3.633billion after purchasing 2.2 million units of ordinary shares in four transactions.
A breakdown of the transactions published on the Nigerian Stock Exchange, show that the Swiss multinational food and drink processing company purchased 1.98 million units on March 2, 2021, at N1,348.84 per share and another 186,277 at N1,349.74 per share on March 3.
Before the transactions, the company held 527,080,970 units of the total shares issued by Nestle Nigeria which represents 66.5 percent of the total shares.
On March 4, the company bought 50,000 units of shares at N1,350 per share and on March 5, bought 27,019 at N1,349.03 unit per share.
Nestlé S.A. is a Swiss multinational food and drink processing conglomerate corporation headquartered in Vevey, Vaud, Switzerland. It is the largest food company in the world.
Nestle is a famous brand when it comes to food. This is a great news to the Nigerian economy as this will go a long way in improving the food industry and as well as job engagement for Nigerians.
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