Juli Plc Spikes 32.5%, Market Value Nears N1bn
Equities investors trading highs and lows on the Nigerian Exchange (NGX) have continued to raise Juli Plc’s market valuation – a food, and drug retailer.
Listed in the alternative securities market, Juli Plc has been on a solid uptrend in recent times, seeing double-digit growth per week since last month.
In the just concluded week, Juli Plc grew by 32.5% to N4.97 per share ahead of 2023 audited financial statement release.
The drug retailer has 199.905 million shares outstanding with a total market capitalisation of N993.527 million as of Friday.
There is no information that insiders are ramping up shares, and Wema Bank remained the company’s majority shareholder. Juli Plc focuses on pharmaceuticals, the running of supermarkets and Laboratory services.
Wema Bank is a major investor in Juli Pharmacy, controlling 30% of the company’s shareholding. It follows that Prince Julius Adelusi-Adeluyi, OFR, mni controls 28.63% while Midas Investment & Property Limited own 8.53%.
Investors are spotting value in the retail company amidst changing market dynamics and the company’s share has started going higher.
The market for drugs is getting tightened as foreign exchange turned into a pressure cooker, driving price instability.
Juli Pharmacy has been known for quality drug sales in its core market areas. Analysts stated that it is not impossible for the company to cross N1 billion on sustained buying momentum. # Juli Plc Spikes 32.5%, Market Value Nears N1bn
