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UK firm increases stake in Cadbury Nigeria

Category: Daily & Weekly Market Updates

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UK firm increases stake in Cadbury Nigeria

February 21, 2006/guardian




The shareholding structure of Cadbury Nigeria Plc was slightly adjusted yesterday as Cadbury Schweppes International increased its stake in the Nigerian Company.

A competent source in the company told The Guardian that the parent company\'s stake has increased to 50.02 per cent from 46.3 per cent with the development, while the remaining shares is being held by Nigerian shareholders. Cadbury Schweppes hitherto held 43.3 per cent while other shareholders held 53.78 per cent.

Already, the management and council of the Nigerian Stock Exchange (NSE), has been informed by Cadbury Nigeria Plc about the latest development in the food/beverage sub-sector company.

At yesterday\'s trading, the company\'s 583,526 shares valued at N33.6 million changed hands at N57.51 per share in 102 deals.

Meanwhile, a total of 90.15 million shares worth N1.02 billion changed hands yesterday, down from 102.99 million shares exchanged when the market closed on Friday.

The banking sub-sector remained the most active in volume terms with 75.7 million shares worth N669.2 million, while the insurance sub-sector followed with 3.2 million shares valued at N7.7 million, and the building materials sub-sector ranked third with 2.6 million shares worth N62.8 million.

A breakdown of the banking sub-sector indicated that the shares of Intercontinental Bank Plc was the most active in volume terms with 14.9 million units worth N154 million, while NAL Bank Plc followed with 13.3 million shares worth N37.1 million.

In the insurance sub-sector, Niger Insurance Plc led others in volume terms with 997,410 shares worth N3.13 million, while WAPIC Insurance Plc followed with 696,409 shares worth N2.1 million.

Ashaka Cement Plc led others in volume terms in the building materials sub-sector with 1.41 million shares worth N47.8 million.

Oando Plc was the highest price gainer with 150 to close at N92.50, while Nestle Nigeria Plc and Texaco Nigeria Plc added 101 kobo and 100 kobo to close at N190.01 and N110 per share respectively.

Cadbury Nigeria Plc led the losers, down by 296 kobo to close at N57.51, while First Bank of Nigeria Plc and 7Up Bottling Company Plc followed with 194 kobo and 80 kobo to close at N37.06 and N29.20 per share respectively.

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