BUA Foods Plc says it has received approval to list on the Main Board of The Nigerian Exchange (NGX).
The company made the announcement in a statement emailed to The Herald on Wednesday.
“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”.
“A total of 18,000,000,000,000 (eighteen billion) shares were admitted to trading, representing the total issued share capital of the Company,” the statement read in part.
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 CON, 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, stockbrokers, 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, Engr. 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.”
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.