NESTLÉ S.A, Switzerland, the parent company of Nestlé Nigeria Plc, has increased its stake in its Nigerian subsidiary with the purchase of 229,697 additional units in the shares of the company.
According to a notification submitted to the Nigerian Stock Exchange (NSE), the purchase was transaction was made on the in a single transaction on 11th, September.
Analysis of the transaction, indicated that the purchase consideration for the 229,697 additional units of Nestlé Nigeria shares at an average price of N1,249.65 per unit is put at N287 million.
With the recent purchase of shares by Nestlé S. A, the company has accumulated a total of 977,744 additional shares worth N1.165 billion since 20th August.
As of June 30th, in line with the shareholding analysis of Nestlé Nigeria in its half-year financial results, the company had exactly 792,656,252 shares outstanding, with Nestlé S.A being the majority shareholder with 524,559,457 units, which amount to 66.18 per cent of the total shares of the company outstanding.
Hence, with the purchase of 229,697 additional units, and previous purchases from 20th August till date, which amount to 977,744 units. Nestlé S. A’s ownership percentage of Nestlé Nigeria is now put at 66.30 per cent.
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