Switzerland based consumer goods giant, Nestlé S.A has raised its stake in Nestlé Nigeria Plc with the purchase of shares worth N104 million.
According to the NSE, Nestlé S.A, one of the largest producers of food and beverage speciality products in the world, bought a total of 77,019 additional shares of its Nigerian Subsidiary, at a price of N1349.00 per share.
This puts the total purchase consideration for the shares of Nestlé Nigeria by the Swiss multinational at N103.9 million.
Nestlé S.A Acquires Shares In Its Nigerian Subsidiary Worth N104 Million
Similarly, dealings by insiders of listed companies are corporate actions to be disclosed by the management of the company.
This is in compliance with NSE’s policy on insider dealing, as the disclosure is key in the effort to ensure transparency and reinforce the trust of the investing public.
Lastly, the purchase cements Nestle position as the majority shareholder of the company, with an ownership stake of 66.5% or 527,080,970 units of the total issued shares of the company (December 31st, 2020).