Nigerian Beverage Maker Gets N507.35million From Switzerland Company
- Nestle S.A has made over three investments into Netle Nigeris within the last three months since March
- The latest investment gulped N507.35 million after 363,869 shares were purchased within three days
- The Switzerland-based company has made about N4 billion investment in Nestle Nigeria since March 2021
Nestle S.A, the parent company of Nestle Nigeria, has invested N507.35 million into its Nigerian subsidiary to acquire more shares that will increase its stake in the food and beverage producer.
The Switzerland-based company has been making series of investment into Nestle Nigeria, with the latest being an acquisition of 363,869 shares, which was acquired for N1,394.33kobo per share.
Nestle S.A made the capital investment in three tranches, between May 26, 2021, to May 28, 2021. The investor first bought 14,798 shares for N1,392.38kobo per share on Wednesday.
It added 56,520 shares bought at N1,395.95kobo per share. Another round of purchase was made on Friday, as Nestle acquired 292,551 shares at N1,399.99 per share - this brought the total capital infusion into Nestle Nigeria to N507,353,462.77 considering the average price set at N1,394.33kobo per share.
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Two months ago, Nestle S.A invested N500 million into Nestle Nigeria. The fund was used to acquire 400,000 shares in the Nigerian subsidiary on Tuesday, March 16, 2021.
Before then, the parent company had invested N3.7 billion within the first and second week of March - after purchasing 2.16 million shares for N2.92 billion in the first week, and 562,796 shares worth N773.79 million in the second week.
Meanwhile, Legit.ng had previously reported that residents of Lagos shared their experience in the hand of house agents while seeking for apartment within the state.
A resident said N100,000 was lost to a house caretaker who gave him a different information compared to what was seen in the house document given to him.
Source: Legit.ng
