The Management of BUA Foods Plc (“BUA Foods” or the “Company”) will today be honored with a closing gong ceremony at the Nigerian Exchange (NGX) Limited to mark a successful listing by introduction following the consolidation of it’s five food businesses under a single entity -BUA Foods; a statement by the company has confirmed.
A total of 18,000,000,000 (eighteen billion) shares of BUA Foods were listed at N40 per share under the consumer goods sector of the NGX with the ticker “BUAFOODS”. The statement added that the listing of BUA Foods Plc lifted NGX market capitalization by N720billion and within days of trading, boosted the market capitalization of the Nigerian Exchange Limited by over N1trillion. This impressive outcome is an indication of the strong investment proposition of the company whose expansion drive is geared towards contributing towards national economic development and wellbeing.
According to the statement, “The listing is another step in BUA Foods goal towards growth and expansion to meet the food needs of the population as we continue to build a sustainable business. It underscores our resolve to continue to produce high quality products for consumers at reasonable prices. We have set the ball rolling and don’t intend to relent in our efforts.”
About BUA Foods PLC
BUA Foods is a leading food business with well diversified and scalable operations producing sugar, flour, pasta, rice and edible oils. With strategically located plants across Nigeria, coupled with a cordial alliance with local stakeholders in host communities, BUA Foods is a resilient business built on a strong brand proposition and is an operator with reputation for delivering high-quality products.
BUA Foods continues to invest in modern technology for efficient food production, innovatively 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.
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Headquartered and listed in Nigeria, BUA Foods has become one of the most capitalized companies on the NGX and a leading consumer goods firm by market value.