International Breweries, Abbey Mortgage Bank list N166.8b shares

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By Taofik Salako

International Breweries Plc and Abbey Mortgage Bank Plc at the weekend increased the market capitalisation of the Nigerian stock market by N166.77 billion with the listing of additional shares from their recent new issues.

International Breweries, the Nigerian subsidiary of Anheuser-Busch InBev (AB InBev), at the weekend added N164.39 billion to its market capitalisation through the listing of 18.266 billion ordinary shares of 50 kobo each at N9 per share. The new listing represented the full subscription to the company’s recent rights issue.

With the additional shares, the total issued and fully paid up shares of International Breweries increased from 8.6 billion ordinary shares of 50 kobo each to 26.86 billion ordinary shares of 50 kobo each.

Also, Abbey Mortgage Bank added N2.37 billion to its market capitalisation through the listing of 2.26 billion ordinary shares of 50 Kobo at N1.05 per share. The new shares arose from a private placement made to VFD Group Plc.

With the additional shares, the total issued and fully paid up shares of Abbey Mortgage Bank increased from 4.20 billion ordinary shares of 50 kobo each to 6.46 billion ordinary shares of 50 kobo each.

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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