• Thursday, June 13, 2024
businessday logo


BUA Foods Plc receives approval to list on the Nigerian Exchange

BUA Foods proposes N5.50 final dividend as profit grows to N112.1bn

BUA Foods Plc has received approval to list in the Main Board of the Nigerian Exchange (NGX) after satisfying the listing requirements and obtaining regulatory approvals.

A total of 18 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.

Henceforth, all BUA Foods shareholders will be free to trade their shares on the Exchange.

“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,” Abdul Samad Rabiu, CON, Chairman of BUA Group said

“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,” Rabiu said.

Read also: BUA Group set to list food businesses on Nigerian Exchange

Ayodele Abioye, the Acting Managing Director, BUA Foods, also stated that 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,” Abioye said.

BUA Foods remains a consistent leading player in the Food and FMCG industry with a strong reputation for exceeding customers and consumers expectations with high-quality products.

For over three decades, the company has maintained an unbroken streak of year-on-year growth, establishing ultra-modern production facilities across multiple locations. 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.