BUA Foods Plc, a combination of five different divisions – sugar, rice, flour, pasta, and edible oils, has announced the successful listing of its shares on the Main Board of Nigerian Exchange Limited (NGX).
This follows BUA Foods satisfying the listing requirements of The Exchange and obtaining the relevant regulatory approvals.
Accordingly, BUA Foods is now listed in the consumer goods sector of The Exchange, with the ticker “BUAFOODS”. A total of 18 billion ordinary shares were admitted to trading, representing the total issued share capital of the Company.
The listing by introduction means that the shares of existing BUA Foods’ shareholders have been listed without an additional public sale of shares. Henceforth, all BUA Foods shareholders will be free to trade their shares on The Exchange.
I am delighted that, yet another BUA Company has been listed on the NGX. This shows our commitment to national economic growth and supporting the food security drive of the nation.
Commenting on the listing, Chairman of BUA Foods, Abdulsamad Rabiu, said: “I am delighted that, yet another BUA Company has been listed on the NGX. This shows our commitment to national economic growth and supporting the food security drive of the nation.
“We appreciate the continued support of our stakeholders – consumers, vendors, advisers, and regulators. In particular, we cherish our host communities with whom we have very strong and mutually beneficial relationships. I would like to thank the staff and members of the management team who worked diligently to make this day possible.”
Also, the Acting Managing Director, BUA Foods, Ayodele Abioye, 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.
“The listing resonates with our commitment to sustainable economic growth as we nourish and enrich the lives of Nigerians 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.”
BUA Foods has issued a Listing Memorandum in relation to the listing, a copy of which is available on the Company’s website: www.buafoodsplc.com.
The Financial Advisers to BUA Foods are Stanbic IBTC Capital Limited, Rand Merchant Bank Nigeria Limited, and UCML Capital Limited; Udo Udoma & Belo-Osagie acted as Solicitors to the Listing. APT Securities and Funds Limited and CardinalStone Securities Limited acted as Joint- Stockbrokers to the listing of BUA Foods.