Nigeria: Guinness Nigeria’s shares surge by about 10%

Shares of Guinness Nigeria Plc surged by about 10% on March 26 on the Nigerian Stock Exchange, lifting the company’s market capitalization by N5.9 billion at the close of the market, the Nairametrics reported on March 26.

The impressive 9.86% surge in the shares of Guinness on March 26 was driven by investors buying interest in the shares of the brewer. Their interest has seen the shares of the company increase by more than 30% in less than a month.

Data tracked on March 26 from market open, down to the close of trading activities on the exchange revealed that the shares of Guinness Nigeria Plc surged by 9.89% or N2.7 to close higher at N30.00 per share.

This bullish move in the shares of Guinness has seen the market capitalization of the brewer increase by more than N5 billion on the exchange today, from N59.8 billion at market open to N65.7 billion at the close of market on March 26.

About 12,564,540 ordinary shares of Guinness Nigeria Plc worth about N372 million, were exchanged in 45 deals executed on the exchange on March 26, with the market price of Guinness shares closing at N30 per share, 9.89% higher than the closing figure on March 25.

Aside from Guinness, shares of International Breweries Plc and Nigerian Breweries Plc rose by 2.7% and 0.1%, to close the day higher at N5.70 and N48.5 per share respectively; while the shares of other brewers listed on the Nigerian Stock Exchange like the Champion Breweries Plc and Golden Guinea Breweries Plc closed flat at N2.12 and N0.81 per share respectively.

25 March, 2021