In recent times, Greek-American businessman John Coumantaros, chairman of Flour Mills of Nigeria Plc, has seen a significant growth in the market value of his interest in the renowned food and agro-allied conglomerate.
According to report, John Coumantaros’ share in the business has increased by N7.53 billion, owing to increased investor interest in the consumer products company, resulting in a large increase in his fortunes on the Nigerian Exchange.
Flour Mills of Nigeria, founded in 1960 by the late George Coumantaros and now run by his son John, has established itself as a major participant in the Nigerian food and agro-allied industries. Building on this tradition, the company has grown significantly throughout the years.
The company’s shares on the Nigerian Exchange have risen 10% from N29 on October 27 to N31.90 at the time of writing. As a result, the food and agro-allied group’s market value has risen to $160 million.
John Coumantaros, the chairman of Flour Mills of Nigeria and one of the Nigerian Exchange’s wealthiest investors, holds a 63.34 percent ownership in the company.
Coumantaros’ shareholding in Flour Mills of Nigeria has increased by N7.53 billion since October 27, rising from N75.32 billion to N82.85 billion at the time of writing.
John Coumantaros’ growing shareholding not only solidifies his position as a financial powerhouse on the Nigerian Exchange, but also elevates him to the ranks of the country’s prominent corporate figures.
