Neptune Hill Company Limited has increased its stake in Julius Berger Nigeria Plc (NGX: JBERGER) via the acquisition of over 15 million units shares valued at more than N300 million between March and June 2021.
This was disclosed in a ‘notification of share dealing by insiders’ published by Julius Berger on the Nigerian Exchange.
The shares totaling 15,643,579 units were purchased by Neptune Hill at an average price of N20.14 from 5 March to 2 June 2021.
The transactions which will amount to N315.06 million were conducted in Lagos according to the document.
Read also: Presco Plc Board resolves to acquire competitor, raise additional capital
As at 31 December 2020, Neptune Hill Company Limited held 261,360,000 units of Julius Berger Nigeria Plc shares. If the position remained unchanged, the total holding will now stand at 277,003,579 units.
Julius Berger Nigeria Plc has 1.6 billion outstanding shares, thus. Neptune Hill now holds 17.31% stake in the company.
In the first quarter of 2020, Julius Berger Nigeria Plc grew its revenue to N71.20 billion from N55.91 billion in Q1 2020. The profit after tax rose to N2.83 billion from N412.45 million reported in Q1 2020.
The share price closed at N20.00 per share on Monday and remains unchanged on the floor of the Nigerian Exchange at the time of writing this report.
The company paid a N0.40 kobo per share dividend for the 2020 financial year, and issued bonus shares of 1 (One) new Ordinary Share for every 99 (Ninety- Nine) existing Ordinary shares held by shareholders whose names appear on the Register of Members at the close of business on 28 May 2021.
Read more: List of Dividends announced in 2021, qualification and payment dates
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
