BUA Foods Plc has announced that it has received approval to list 18billion shares at N40 on the Main Board of The Nigerian Exchange Limited (NGX).
A total of 18 billion shares were admitted to trading, representing the total issued share capital of the company.
The listing of BUA Foods’ shares has added N720billion to the market capitalization of NGX, further boosting liquidity in the Nigerian capital market and providing opportunities for wealth creation.
BUA Foods has satisfied the listing requirements of The Exchange and obtained relevant regulatory approvals. As a result, BUA Foods is now listed in the consumer goods sector of the Exchange, with the ticker “BUAFoods”.
The listing by introduction means that the shares of existing BUA Foods’ shareholders has been listed without an additional public sale of shares. Henceforth, all BUA Foods shareholders will be free to trade their shares on the Exchange.
Commenting on the listing, Abdul Samad Rabiu, Chairman of BUA Group said “I am delighted that yet another member of BUA Group has been listed on the NGX. This shows our commitment to national economic growth and support for the food security drive of the nation in alignment with global sustainability goals.
“We appreciate the continued support of our stakeholders – financial advisers, stock brokers, suppliers, customers, consumers and members of staff. In particular, we cherish our host communities with whom we continue to entrench very strong and mutually beneficial relationships.”
The Acting Managing Director, BUA Foods, Mr. Ayodele Abioye, also said: “The listing today marks a new beginning for a Company playing a critical role in the FMCG industry, one that’s highly committed to nourishing lives with all our product offerings.
“The listing resonates with our commitment to sustainable growth as we nourish and enrich the lives of consumers by delivering high quality products at competitive prices. This listing creates an avenue for everyone to be a part of the success story of BUA Foods and benefit from the growth opportunities ahead.”
For over three decades, the company has maintained an unbroken streak of year-on-year growth, establishing ultra-modern production facility across multiple locations.
BUA Foods remains a consistent leading player in the Food and FMCG industry with strong reputation for exceeding customers and consumers expectations with high-quality products.
BUA Foods also continues to invest in modern technology for efficient food production, innovating and expanding with strategic partners across the value chain.
The company is also well-positioned to leverage significant export potentials across West Africa and the larger African continent.