Nestle S. A., the majority shareholder of Nestle Nigeria Plc, has bought an additional 40, 894 units of the shares of the consumer goods manufacturer. It was revealed that the shares were bought in five tranches and at different rates ranging from N1,034.56 to N1,140. Nestle Nigeria closed trading at N1,148 per share on the floor of the NGX on Thursday. In March, Nestle S.A. bought 77, 967 units of shares of the Nigerian arm for over N84m. Nestle recorded a 27 per cent growth in its revenue for last year to N446.81bn from N351.82bn in 2021.

Source: Punch May 27, 2023 20:31 UTC