At the end of today’s trading session, Champion Breweries Plc share price joined the gainers, appreciating by 8.05%, to close at N2.55 per share and taking the market capitalization from N18.48 billion to N19.97 billion.
The brewer recorded a gain in share prices after the announcement of take-over shares offer by Raysun Nigeria Limited to acquire over 1 billion shares of the company, representing 15.3% of Champion Breweries’ total shares outstanding, for N2.60 per share.
This notice triggered a rally in the shares of the company, supporting a gain of N1.49 billion in market capitalization at the close of trading activities on Nigeria’s stock exchange.
The shares of the company grew from N2.36 per share at the start of the trading day to N2.55 per share, after trading as high as N2.59 during trading hours, to represent a gain of 8.05% which in monetary terms is N0.19.
Stock performance summary
The appreciation witnessed in the shares price of Champion Breweries Plc influenced the company’s market capitalization positively to move from N18.48 billion to N19.97 billion at the end of the trading activity, taking the gain to N1.49 billion.
The shares of the brewery have appreciated by 8.51% from year-to-date, starting the year at N2.35 and currently traded at N2.55. However, the shares of the company have returned about 52.69% gains for investors who bought them at their 52-week low trading price of N1.67 per share.
During the day’s trading hours, 1,706,644 ordinary shares of Champion Breweries Plc worth about N4.34 million, were exchanged in 31 executed deals.
What you should know
At the end of the day’s trading activities, the NGX All-Share Index and market capitalization appreciated by 0.02% from the previous trading day, to close at 45,939.51 index points and N24.76 trillion respectively.