Stanbic IBTC reduces stake in Guinness Nigeria

Stanbic IBTC Nominees Limited, a wholly-owned subsidiary of Stanbic IBTC Bank PLC, has reduced its stake in Guinness Nigeria, as new investors take up shares in the alcohol producer.

The leading custodial and investor Services Company in Nigeria for non-pension assets sold off 27.93 million ordinary shares from its holdings within the First Half of 2021, cutting its stake to 5.44 percent.

The investment company held 147.18 million shares as of Full Year 2020, representing 6.71 percent control of Guinness Nigeria, but the total shares currently held is down to 119.25 million.

Meanwhile, a new investor, Mutima Opportunity Fund has acquired 112,502,111 shares of Guinness Nigeria, according to the brewer’s First Half financials for 2021.

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The company held no share in 2020, but now holds 5.14 percent stake in Guinness Nigeria, making it one of the four substantial shareholders in the brewing firm which holds more than 5 percent.

There were no changes in the 50.18 percent stake held by majority shareholder, Guinness Overseas Limited (a subsidiary of Diageo Plc, makers of Guinness Foreign Extra Stout, Guinness Smooth, Malta Guinness, Harp Lager, Smirnoff, Orijin, Gordons).

Also, Atalantaf Limited, another subsidiary of Diageo, held on to its 7.84 percent shareholding – both Guinness Overseas and Atalantaf make up the foreign substantial shareholders in Guinness Nigeria.

Stanbic IBTC Nominees Limited is one of the leading custodial and investor Services Company in Nigeria for non-pension assets. A wholly-owned subsidiary of Stanbic IBTC Bank PLC, provides custodial services to both local and international clients taking investment positions in Nigeria.

The Company is also licensed as a Securities Lending Agent.  Stanbic IBTC Nominees Limited was also appointed by the CBN in 2009 to keep custody of Money Market and Other Fixed Income instruments for the Nigerian investing public.