INTBREW Hits New 52-Week High in Non-Stop Rally
Beer producer, International Breweries Plc (Ticker: INTBREW) set a new 52-week high in the equities market as the company’s shares continued to gain attention.
According to data from the Nigerian Exchange, the share price of International Breweries rose to N8.47 on Monday as 11.249 million shares valued at N93.078 million exchanged ownership.
The brewer with more than 96% foreign ownership saw a monster rally last week. Its market value rose by +40% week on week to close at N7.70.
The company with highly concentrated shareholding is expected to reverse its loss-making streak as macroeconomic tensions begin to ease. Its major rival’s earnings release has been upturned, and analysts are hoping to see an improved earnings performance in Q1-2025.
International Breweries’ market value has climbed to N1.425 trillion ahead of Q1-2025 earnings release. Some analysts said the brewer stocks could pick up further, driven by sentiment rather than profitability or dividend payments. GTCO, NB Plc Drive Intraday Gain in Equities Market
