A total of 18 billion ordinary shares of BUA Foods were
listed at N40.00 per share under the Consumer Goods sector of NGX, with the
trading symbol, 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, Chairman of BUA Group, Abdul
Samad Rabiu in a statement 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.”
Also, the Acting Managing Director, BUA Foods, Ayodele
Abioye, also stated, “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.”
The Exchange in a statement said the listing of BUA Foods’
shares has added N720billion to the market capitalisation of NGX, further
boosting liquidity in the Nigerian capital market and providing opportunities
for wealth creation.
According to the bourse: “It is expected that this listing
will also increase the visibility of the food manufacturing, processing, and
distribution company, BUA Foods, to investors on the African continent and
across the globe.
“NGX facilitated over N7 trillion worth of capital raises
across several asset classes for both public and private corporations in 2021.
As a multi-asset Exchange, NGX is strategically positioned to be the preferred
listing and investment destination connecting Nigeria, Africa and the world.”
“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, “BUA added.
0 comments:
Post a Comment