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    Home»Business Matters»International Breweries drowns N4.03 billion in market value, amidst bullish market

    International Breweries drowns N4.03 billion in market value, amidst bullish market

    Business Matters By Temitope N.Nov 5, 2021No Comments2 Mins Read
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    At closing of trade today, International Breweries Plc share price depreciated by 2.63% to close at N5.55 per share, taking the Market capitalization from N153.11 billion to N149.08 billion.

    Champion Breweries
    Breweries

    International Breweries Plc, today, 5th November 2021 recorded a loss in share price which can be attributed to investors’ negative sentiment which triggered sell-pressures in the shares of the company, inducing a loss of N4.03 billion in market capitalization at the close of trading activities on the Nigerian Exchange.

     

    The shares of the quoted brewery declined from N5.70 per share at the start of the trading day, to N5.55 per share, the lowest price traded at the close of the market, to represent a decline of 2.63% which in monetary terms is N0.15.

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    The sell-pressure witnessed in the shares of International breweries negatively influenced the company’s market capitalization from N153.11 billion to N149.08 billion at the end of today’s trading activities, taking the loss to N4.03 billion.

    The shares of International Breweries Plc have declined 6.72% from year-to-date, starting the year at N5.95 and currently traded at N5.55. The brewery’s shares are currently trading 28.29% lower than their 52-week high of N7.74 per share. However, the shares of the company have returned about 23.33% gains for investors who bought them at their 52-week low trading price of N4.50 per share

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    International Breweries PLC
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