Guinness Nigeria’s 39.70 billion naira ($126 mln) share sale to existing shareholders was 116 percent subscribed, the company said on Wednesday.

The brewer, the local unit of the world’s leading spirit maker Diageo, said in a statement it sold five new shares from the company to shareholders for every 11 held, at 58 naira each.

The company, which is 54 percent owned by Diageo, said two shareholders applied for 50 million shares and above during the rights issue.

Diageo has said it was willing to take up its rights in the share issue to maintain its shareholding.

The company had been seeking to raise funds to strengthen its balance sheet after it posted its first annual loss in 30 years in the 12 months to June 2016.

Guinness Nigeria shares traded flat on Wednesday at 98.55 naira on the Lagos bourse, up about 18 percent so far this year.

SOURCE: https://brandspurng.com/guinness-nigerias-126-mln-share-sale-oversubscribed/

Good for them

No be beer investment, pple must drink

The company had been seeking to raise funds to strengthen its balance sheet after it posted its first annual loss in 30 years in the 12 months to June 2016.


Buhari why

tripleY:

The company had been seeking to raise funds to strengthen its balance sheet after it posted its first annual loss in 30 years in the 12 months to June 2016.
SOURCE: https://brandspurng.com/guinness-nigerias-126-mln-share-sale-oversubscribed/

BUHARI show people ehn, so tail they stop to de buy stout

Life with burahi is bitter already, why drink stout again?

Where my share. Am a fan.

Ok


Meanwhile

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beer. .beer. .it's just so funny. .I thought they say its alcohol. .and it kills. .yet in nigeria wetin dey kill people na him they pay pass!

No Comments on this Failing Enterprise..See me @ the Corner for More Info...

Hero

O mpa

Mmanya m

Interfact n Nigerian brewery is giving them serious headache.

lost for the first time since 30 years. hmmmmm.

Quite impressive...

Anyway Guinness has always been a good brand

deepwater:


BUHARI show people ehn, so tail they stop to de buy stout

Life with burahi is bitter already, why drink stout again?

how much did you invest in the company?

People are investing their billions even with Buhari still in power till 2023 and you dey yarn opata here

Hmmm

Sold most of my shares two years back to get Guinness shares and am thanking my stock broker for it today. Their dividend dey make sence. Not surprised it's oversubscribed based on their good track record.