Champion Breweries Edges Higher by 10% on Fresh Rally
With huge ownership concentration, Champion Breweries Plc’s market value increased by about 10% in the stock market as a results of renewed investors demand.
Demand came strong as the company prepared to release its audited financial statement for 2024. According to data from the Nigeria Exchange, the brewer’s stock surged to N4.12 at the end of the trading session on Friday from N3.75 opening price in the week.
The rally that lasted for a day lifted the market value of Champion Breweries Plc’s 8.947 billion shares outstanding to N36.865 billion.
The stock is trading at a fair discount to its 52-week high on the Nigerian Exchange equities trading platform. Data from its 52-week trading record showed that the ticker had reached N4.28, and then retreated.
Last year, EnjoyCorp Limited’s completed the acquisition of 86.5% stake in Champion Breweries plc, a prominent figure in the regional brewing industry.
EnjoyCorp acquired 100% shareholding in The Raysun Nigeria Limited, which in turn holds the 86.5% stake in Champion Breweries plc listed on the Nigerian Exchange Group. #Champion Breweries Edges Higher by 10% on Fresh Rally SEC to Roll out Guidelines for Fintech in 2025 – Agama
