Investors divest from BOC Gases’ shares
Nigerian Exchange (NGX) has entered into a deal to assist investors to divest their shares of BOC Gases Nigeria worth N1.3bn.
The deal entails a total of 249.75 million shares of BOC Gases Nigeria was transferred under negotiated cross deal at N5.50 per share.
The Nation’s check indicated that shares were 60 per cent majority equity stake held by BOC UK in BOC Nigeria. The deal was crossed by Stanbic IBTC Stockbrokers, a stockbroking firm known for trading for foreign investors.
Linde Plc, the parent company of Linde Group, had in 2018 became the indirect beneficial ownership in BOC Gases Nigeria Plc.
The beneficial ownership arose from the merger between Linde AG, a company registered in Germany and listed on the Frankfurt Stock Exchange and Praxair Inc, a company registered in the United States of America and formally listed on the New York Stock Exchange.
With the merger, Linde Plc, a company registered in Ireland and listed on the Frankfurt and New York Stock Exchanges, became the parent company of Linde AG and Praxair Inc.