By Medha Singh and Noel Randewich

(Reuters) – While former U.S. President Donald Trump has said he will not sell his $1.7 billion stake in Trump Media after restrictions likely expire on Thursday, other insiders could soon cash in their gains.

Trump Media & Technology Group is 57% owned by the Republican presidential candidate who told reporters last Friday that he does not plan to sell his shares.

Other major stakeholders who could soon sell their shares include United Atlantic Ventures and Patrick Orlando, whose fund, ARC Global Investments II, sponsored the blank-check company that merged with Trump Media in March. The two own a combined 11% of Trump Media, according to a company filing.

“Even if Trump doesn’t, it would be interesting if other insiders begin selling because that would be a clue as to what they think his mindset is about selling,” said Steve Sosnick, chief strategist at Interactive Brokers.

Trump Media insiders could sell their shares as early as after the bell on Thursday if the stock ends the regular trading session at or above $12, according to a provision in the company’s prospectus.

Shares were last down 4% at $15, extending sharp losses in recent weeks fueled by worries about the end of so-called lock-up period related to its stock market debut in March.

Trump and other insiders, including Chief Operating Officer Andrew Northwall, Chief Technology Officer Vladimir Novachki and director Donald Trump Jr., did not respond to Reuters’ requests for comment on their plans after the lock-up expires.

Trump Media did not respond to a request for a comment.

The size of ARC’s stake in Trump Media is in dispute. A Delaware judge this week ruled ARC Global should receive 8.19 million shares of Trump Media, more than the roughly 7 million shares that the company has said that ARC was entitled to.

Separately, Truth Social cofounders Andy Litinsky and Wes Moss have also sued TMTG for damages for preventing them from selling their stock sooner.

Orlando and Moss did not immediately reply to requests for comment, while Litinsky could not be reached for a comment.

Newly listed companies often see pressure on their stocks ahead of the end of their lock-up period, when insiders become free to sell their often considerable stakes.

Trump Media, which operates the Truth Social app, saw its value balloon to nearly $10 billion following its Wall Street debut, lifted by retail traders and traders who see it as a speculative bet on his chances of securing a second four-year term as president.

However, after reaching that peak, Trump Media shares have lost most of their value, with declines accelerating in recent weeks after President Joe Biden gave up his reelection bid on July 21, and Trump lost a lead in opinion polls ahead of the Nov. 5 presidential election to Democratic candidate Vice President Kamala Harris. Betting markets now show Harris with a modest advantage over Trump in a tight race.

Trump Media’s revenue is equivalent to two Starbucks coffee shops, and strategists say its $3 billion stock market value is detached from its day-to-day business.

Its stock is trading at the equivalent of over 1,000 times its revenue, far exceeding the valuation of even AI superstar Nvidia, which recently traded at 24 times its revenue.

“The market couldn’t absorb even a partial stake sale without some material damage to the stock,” Sosnick said.

“Ultimately a lot will hinge on whether (Trump) keeps his word on not selling while the longer term prospects of the company are completely dependent upon his electoral prospects.”

Insiders Stake as % of outstanding

TMTG shares

Donald Trump 56.6%

United Atlantic 5.5%

Ventures llc

ARC Global 5.5%

Investments

Phillip Juhan 0.2%

Devin Nunes 0.06%

Scott Glabe 0.01%

(Reporting by Noel Randewich and Medha Singh; Additional reporting by Lance Tupper and Tom Hals; Editing by Megan Davies and Diane Craft)

ABUJA (Reuters) – Coca-Cola (NYSE:) plans to take a position $1 billion in its Nigeria operations over the following 5 years, the nation’s presidency mentioned after a gathering between President Bola Tinubu and senior executives of the delicate drinks maker on Thursday.

Tinubu met John Murphy, president and chief monetary officer of Coca‑Cola, Zoran Bogdanovic, CEO of Coca-Cola HBC – one among Coca-Cola’s many bottlers worldwide – and a number of other different firm officers as he seeks to draw funding into the financial system.

Bogdanovic informed Tinubu that Coca-Cola had since 2013 invested $1.5 billion in Nigeria to increase its manufacturing capability, enhance its provide chain and on coaching and improvement, the Nigerian presidency mentioned in an announcement.

“I’m more than happy to announce that, with a predictable and enabling atmosphere in place, we plan to take a position a further $1 billion over the following 5 years,” Bogdanovic was quoted as saying.

The funding announcement comes after Tinubu’s authorities noticed a number of multinationals like Procter & Gamble (NYSE:), GSK Plc and Bayer AG (ETR:) go away the nation or appoint third events to distribute their merchandise attributable to international change shortages.

Tinubu, in workplace since Might final yr, mentioned his authorities wished to create an atmosphere open to companies.

“We’re constructing a monetary system the place you may make investments, re-invest, and repatriate all of your dividends. I’ve a agency perception in that,” he mentioned.

Nigeria, with a inhabitants of greater than 200 million is seen as a possible market for a lot of international manufacturers, however foreign exchange woes, crimson tape and coverage inconsistency discourages some buyers.

Bottler Coca-Cola HBC in April mentioned its working revenue would rise this yr, supported by robust demand for its espresso, vitality and glowing drinks whilst costs have been hiked to maintain up with excessive prices and forex devaluation in international locations like Egypt and Nigeria.

Abstract

St. Louis-based Ameren Corp. is a public utility that serves 2.4 million electrical prospects and 900,000 pure gasoline prospects by its Ameren Missouri and Ameren Illinois regulated subsidiaries. Prospects are positioned in central and japanese Missouri and southern Illinois. Ameren Missouri supplies vertically built-in electrical service, with a producing capability of 10,800 megawatts. Ameren Illinois supplies electrical transmission service in addition to pure gasoline supply. Ameren Transmission Co. of Illinois develops regional electrical transmission tasks. AEE additionally operates one nuclear-generating facility. In 2023, electrical energy accounted for about 83% of whole revenues.

Administration is dedicated to electrical and gasoline service enlargement and infrastructure enhancements within the firm’s regulated service territories. Ameren has exited the risky non-regulated service provider power enterprise, and has proven little curiosity in buying non-regulated property. The corporate operates a number of nuclear mills, however nonetheless depends closely on coal. Of the utility’s producing capability, the 2023 gasoline combine is about 44% coal, 12% nuclear, 29% pure gasoline/oil, and 15% renewables. Administration estimate