Jos International Breweries Plc
Major Equity Swap At JIB
17 April 2007
A major divestment in Jos International Breweries Plc, yesterday may chart a new course for the shares in the coming weeks.
Stockbrokers said the cross deals where 200 million shares were transfered to new investors, has put the company in focus again.
The Brewer of Rock Larger beer among other brands has not declared dividends in a long time now. Specifically, the market capitalization of shares which were traded yesterday at N2.94 was N588 million.
The highest price during the year has been N3.26. The new investor(s) may turn out to be a booster to the company, which currently carry zero price earning ratio and earnings per share.
Earlier in March 2007, the Nigerian Stock Exchange allowed a supplementary offer of the brewery company listed. The supplementary offer of 303,500,000 shares was listed.