Finance

BUA Foods Plc gets NGX approval to list on board

BUA gets $500m facility from IFC for industrialisation

BUA Foods Plc has announced that it has received approval of the The Nigerian Exchange (“NGX”) to list on its Main Board.

A statement by the firm said BUA Foods has satisfied the listing requirements of The Exchange and obtained relevant regulatory approvals, to get listed in the consumer goods sector of the Exchange, with the ticker “BUAFOODS”.

A total of 18,000,000,000 (eighteen billion) 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.

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Consequently, 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.”

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Also commenting, acting Managing Director, BUA Foods, Mr Ayodele Abioye, said, “the listing today marks a new beginning for a Company playing critical roles 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 lead player in the Food and FMCG industry with strong reputation for exceeding customers and consumers expectations with high-quality products.

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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 potential across West Africa and the larger African continent.

Sunnews

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