N$5.4bn for NBL shareholders
• Dutch brewer Heineken assumes majority stake
With Heineken officially becoming the majority owner of Namibia's leading beer brewer comes massive windfalls for institutional and individual shareholders.
Jo-Maré DuddyWindhoek
Shareholders of Namibia Breweries Limited (NBL) are collectively about N$5.4 billion richer thanks to the payout of a special dividend linked to Heineken N.V.’s acquisition of the majority stake in the company.
After over a century as an iconic company in which Namibians had the largest say, Heineken N.V. - the world’s second-largest brewer - officially became the majority shareholder in NamBrew on Friday.
Heineken now owns all of NBL Investment Holdings (NBLIH), which owns 59.4% of the shares in NamBrew on the Namibian Stock Exchange (NSX). The Dutch beer giant acquired Ohlthaver & List’s (O&L) 50.01% stake in NBLIH in a multi-billion transaction, having already owned 49.99%. As part of the transaction, a special dividend of N$26.35 per share was paid out on Friday.
Cash windfall
Institutional and individual investors own 40.5% of NamBrew’s 206 529 000 shares on the NSX.
The special dividend meant approximately N$2.2 billion in total in their pockets, with about N$135 million of that earmarked for individuals.
This cash windfall may have been responsible for a huge surge in Capricorn Group’s share price on Friday, the parent company of Bank Windhoek.
Capricorn’s share price jumped to N$14.15, a 2.1% or 29c per share increase compared to Thursday.
According to Romé Mostert, co-founder of Cirrus Capital, this is Capricorn’s highest share price since May 2020. Mostert attributed this higher share price to investors who may have reinvested their NamBrew windfall.
Simonis Storm’s economist Theo Klein added that the payout of the NBL dividend could also mean good news for trade, as well as car and property sales.
NamBrew closed at N$32.01 per share on the local index of the NSX on Friday, unchanged from the previous day. The company’s total market capitalisation is approximately N$6.6 billion, making it the third-largest on the local index.
Shareholders of Namibia Breweries Limited (NBL) are collectively about N$5.4 billion richer thanks to the payout of a special dividend linked to Heineken N.V.’s acquisition of the majority stake in the company.
After over a century as an iconic company in which Namibians had the largest say, Heineken N.V. - the world’s second-largest brewer - officially became the majority shareholder in NamBrew on Friday.
Heineken now owns all of NBL Investment Holdings (NBLIH), which owns 59.4% of the shares in NamBrew on the Namibian Stock Exchange (NSX). The Dutch beer giant acquired Ohlthaver & List’s (O&L) 50.01% stake in NBLIH in a multi-billion transaction, having already owned 49.99%. As part of the transaction, a special dividend of N$26.35 per share was paid out on Friday.
Cash windfall
Institutional and individual investors own 40.5% of NamBrew’s 206 529 000 shares on the NSX.
The special dividend meant approximately N$2.2 billion in total in their pockets, with about N$135 million of that earmarked for individuals.
This cash windfall may have been responsible for a huge surge in Capricorn Group’s share price on Friday, the parent company of Bank Windhoek.
Capricorn’s share price jumped to N$14.15, a 2.1% or 29c per share increase compared to Thursday.
According to Romé Mostert, co-founder of Cirrus Capital, this is Capricorn’s highest share price since May 2020. Mostert attributed this higher share price to investors who may have reinvested their NamBrew windfall.
Simonis Storm’s economist Theo Klein added that the payout of the NBL dividend could also mean good news for trade, as well as car and property sales.
NamBrew closed at N$32.01 per share on the local index of the NSX on Friday, unchanged from the previous day. The company’s total market capitalisation is approximately N$6.6 billion, making it the third-largest on the local index.
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