In a renewed move to increase their stake in Vitafoam Nigeria Plc, the directors of the company are seen buying the shares of the company since June 2020.
Details of the company’s shares dealings by insiders show that Bamidele Osuolale Makanjuola, chairman Vitafoam Nigeria Plc purchased the shares in seven different transactions since June. On June 25, he bought 49,289 units of Vitafoam at N5.16 per share.
Also, on June 29 Makanjuola bought 18,528 units at N5.30 per share. On July 3, the chairman raised his stake in the company with additional 12,542 units bought at N5.20 per share; while on August 12, 13, and 17 he bought an aggregate of 47,493 units at an average price of N5.38 per share.
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On August 18, Alegbesogie Joseph Igbinigesu, a non-executive director purchased aggregate 188,700 units at an average price of N5.21 per share; while Adeniyi Taiwo Ayodele, executive director on August 21 bought an aggregate of 192,000 units of Vitafoam Nigeria shares at an average price of N5.22kobo per share.
Vitafoam traded at N5.71 per share on Monday, August 31. The stock’s year-to-date (YtD) return of +29.8percent shows it outperforms the NSEASI (-5.64percent). It had reached a 52-week high of N6.10 and a corresponding low of N3.50 per share.
Vitafoam Nigeria Plc is one of Nigeria’s largest foam manufacturers, producing both flexible and rigid polyurethane products. The company has outstanding shares of 1,250,844,064 units. Vitafoam directors seen mopping up its shares
