BUA Foods places 18 billion shares on the stock market

BUA Foods Plc was listed on the Main Board of Nigerian Exchange Limited on Wednesday, with its total issued capital admitted to trading.

A total of 18 billion common shares of BUA Foods were listed at N40.00 per share in the consumer goods sector of NGX, with the trade symbol “BUAFOODS”.

The company said in a statement that it has met the requirements for listing on the exchange and obtained the relevant regulatory approvals.

“IPO listing means that the shares of existing BUA Foods shareholders have been listed without further public sale of shares. From now on, all BUA Foods shareholders will be free to trade their shares on the stock market, ”the company said.

The NGX said that the listing of BUA Foods shares added 720 billion naira to the market capitalization of listed stocks, further enhancing liquidity in the Nigerian capital market and providing opportunities for wealth creation.

“This list is also expected to increase the visibility of the food manufacturing, processing and distribution company, BUA Foods, with investors on the African continent and around the world,” he added. .

Commenting on the listing, BUA Group Chairman Abdul Samad Rabiu said he was delighted that another group member had been listed on the NGX.

He said, “This shows our commitment to national economic growth and support for the nation’s food security campaign in line with global sustainability goals.

“We appreciate the continued support of our stakeholders – financial advisors, investment dealers, suppliers, clients, consumers and staff. In particular, we cherish our host communities with whom we continue to build very strong and mutually beneficial relationships.

BUA Foods Acting Managing Director Ayodele Abioye said, “Today’s list marks a new start for a company playing a vital role in the FMCG industry, which is strongly committed to nourishing food. lives with all of our product offerings. The list resonates with our commitment to sustainable growth as we nurture and enrich the lives of consumers by delivering high quality products at competitive prices.

“This list allows everyone to be part of BUA Foods’ success and to benefit from future growth opportunities. ”

The release says that for more than three decades, the company has maintained uninterrupted year-over-year growth, establishing a state-of-the-art production facility at multiple sites.

“BUA Foods also continues to invest in modern technology for efficient food production, innovating and expanding with strategic partners throughout the value chain. The company is also well positioned to take advantage of significant export potential across West Africa and the African continent as a whole, ”he added.

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