Bua foods plc engages stakeholders through NGX facts behind the listing

            Bua foods plc engages stakeholders through NGX facts behind the listing

BUA Foods Plc's management has committed not to make shareholders regret their investment in the firm because it is well-positioned to offer value to them in the future.

The Nigerian Exchange Limited (NGX or The Exchange) began the year with the entry of BUA Foods Plc to The Exchange's Main Board. On Tuesday, January 18, 2022, NGX hosted the Management of BUA Foods to a virtual Facts Behind the Listing and Closing Gong Ceremony, in keeping with its tradition of informing stakeholders about important transactions like these.

BUA Foods was introduced to the nation's major stock exchange on January 5, 2022, boosting NGX's market capitalization by N720 billion. 

Mr. Temi Popoola, Chief Executive Officer of the Nigerian Stock Exchange (NGX), spoke at the ceremony and praised BUA Foods Plc for taking the bold move of joining its subsidiary firm, BUA Cement, as a publicly listed company on The Exchange. "The listing of BUA Foods Plc on The Exchange underlines prominent Nigerian corporates' faith in NGX as the partner of choice for raising capital and allowing sustainable growth and development," he added. I applaud the efforts of BUA Foods' management in achieving this listing, as well as the contributions of all professional parties involved in the transaction, including Stanbic IBTC Capital Limited, Rand Merchant Bank Nigeria Limited, UCML Capital Limited, APT Securities Limited, and CardinalStone Securities Limited."

Mr. Rabiu, who spoke at today's event to engage capital market stakeholders, said the company expects to benefit greatly from the bourse's listing.

"Nigeria has a population of over 200 million people, and our food production capability is still insufficient to satisfy present demands." However, with the listing of our food business on the NGX, Nigeria has a lot of hope in terms of increasing its food security capabilities.

"As a result, we're positioned our brand to take advantage of export potential via our strategically located operations, which can create foreign cash for both the company and the economy."

The listing of BUA Foods' shares has increased the market capitalization of NGX by N720 billion, offering more liquidity in the Nigerian capital market and chances for wealth creation. Following the admission of BUA Foods' shares to The Exchange's Main Board on Wednesday, January 5, 2022, the company's share price, market capitalization, and trading activity have all increased.