Tolaram’s N Seven crosses N1bn mark in recent Guinness stock buying spree

N Seven Nigeria Limited, the core investment vehicle and subsidiary of the Tolaram Group, has further cemented its dominant ownership in Guinness Nigeria Plc through an aggressive open-market share accumulation.

Across a strategic series of successive trading tranches on the floor of the Nigerian Exchange Limited (NGX), the parent company has poured over N1 billion into a continuous stock-buying spree.

This sustained capital injection pushes its majority equity stake well past the 70.9 percent threshold, signalling unwavering investor confidence in the brewer’s ongoing financial turnaround and long-term market value.

Through a strategic transaction executed on the floor of the NGX, N Seven Nigeria Limited on Monday, September 7, purchased additional stock valued at N145.6 million at a rate of N363.20 per share.

The company purchased 400,948 units at N363.20 per unit. This latest share purchase comes on the heels of the company’s acquisitions of 499,987 units of Guinness Nigeria shares on September 1 at N370.90 per share, in a transaction valued at about N185.45 million.

N Seven Nigeria had also purchased 550,092 ordinary shares in Guinness Nigeria on August 28. Guinness Nigeria has 2,190,382,819 shares outstanding.

The earlier transaction was executed in 25 separate trading lots at prices ranging from…