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HomeBusiness & EconomyBUA Foods Lists 18 Billion Ordinary Shares, Adds N720bn To NGX Market...

BUA Foods Lists 18 Billion Ordinary Shares, Adds N720bn To NGX Market Cap

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The Nigerian Exchange Limited has on Wednesday, listed BUA Foods Plc on its Main Board, Daily Trust reports.

The NGX said in a statement that the company listed 18 billion ordinary shares at N40 per share under the Consumer Goods sector, which added N720bn to the total market capitalization of The Exchange.

It said the company, which was listed by introduction, would be trading with the symbol, BUAFOODS.

The statement read in part, “The listing of BUA Foods’ shares has added N720bn to the market capitalization of NGX, further boosting liquidity in the Nigerian capital market and providing opportunities for wealth creation.

“It is expected that this listing will also increase the visibility of the food manufacturing, processing, and distribution company, BUA Foods, to investors on the African continent and across the globe.”

The NGX has facilitated over N7tn worth of capital raises across several asset classes for both public and private corporations in 2021.

As a multi-asset Exchange, the NGX says it is strategically positioned to be the preferred listing and investment destination connecting Nigeria, Africa and the world.

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