Listing on any stock exchange provides ample opportunity not only to raise additional capital but also to publicly demonstrate good corporate governance.
After passing the rigorous examination to qualify for listing on the Nigerian Stock Exchange, Bua Foods finally gets approval to sell 18 billion units of shares in the apex stock exchange.
BUA Food had shown exemplary economic and financial performance to the point of increasing its market share in some fiercely competitive sectors. It is creating a niche for itself and standing toe-to-toe with brands well known in Nigeria and beyond.
In its announcement of this milestone achievement, the brand said, "BUA Foods Plc ("BUA Foods" or the "Company") is pleased to announce that it has received approval to list on the Main Board of the Nigerian Exchange ("NGX").
"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 (eighteen billion) shares were admitted to trading, representing the total issued share capital of the company."
The share listing by introduction means that the shares of existing BUA Foods shareholders have been listed without an additional public sale of shares.
As a result, all BUA Foods shareholders will be free to trade their shares on the Nigerian stock exchange.
Bua Foods Plc has been categorized into five business divisions: sugar, flour, pasta, rice, and edible oils.
The company believes that with this listing it will be able to expand its ongoing capital and operational restructuring projects so as to build a bigger and stronger brand that will be able to compete more favorably with the likes of Flour Mills of Nigeria and Dangote Group.
Several benefits are in store for existing and prospective investors, some of which are:
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