Neptune Hill Company Limited has again increased its stake in Julius Berger Nigeria Plc with the acquisition of about 8.6 million new shares.
The deal was sealed on the floor of the Nigerian Exchange Limited on May 23, 2024.
A notice of the deal obtained from the NGX on Friday, showed that 8,576,024 units of Julius Berger shares were bought at an average price of N84.98 per share, totaling about N728.29 million.
As of June 2, 2023, when Neptune Hill last increased its shareholding in Julius Berger by acquiring over 15 million units of its shares on the NGX, its total shareholding stood at 17.31 percent with 277,003,579 units.
The total shareholding of Neptune Hill is expected to increase to 285,579,603 units as of May 23, 2024, representing 17.85 percent of Julius Berger’s total share outstanding of 1.6 billion.
Julius Berger Plc, a Company listed in the Construction/Real Estate sector of the NGX boasts of a market capitalization of N143.2 billion as of June 14, 2024.
The construction firm reported a net profit of N10.05 billion in the first quarter financial period ended March 31, 2024 while revenue stood at about N110.88 billion in the same period.
