The shares of UAC of Nigeria Plc (UAC) have seen remarkable demand since the company’s disclosure that it has entered into an agreement to acquire Chivita|Hollandia (CHI Limited) from The Coca-Cola Company. The stock had reached a 52-week high of N97.1 as against a 52-week low of N16.6. In early trading on Tuesday, it reached N106.8. On Wednesday, July 30, when the company announced its acquisition of Chivita, the stock was priced at N73. It implies that within four days, it has risen by over 37 percent because in early trading on Tuesday, August 5, the stock crossed N100 per share.
On July 30, investors traded 2,985,270 shares of UAC, and the stock closed that day at N73. On Thursday, July 31, UACN rallied to close at N80.3 while its 1,592,221 shares were traded. Also, on August 1, the stock moved further high to N88.3 while 3,527,891 shares were traded. The stock drove the NGX-ASI to a positive start to the new week after closing on Monday, August 4, at N97.1 per share, while 3,190,063 units were traded on the Nigerian Bourse.
Last 7 Days Trades