Capital Market

BUA Foods Engages Stakeholders Through NGX Facts Behind The Listing

Published

1 year ago

January 18, 2022

Business Echo Magazine

Left-Right: Haruna Jalo-Waziri, Managing Director, Central Securities Clearing System (CSCS) Plc; Temi Popoola, CFA, Chief Executive Officer, Nigerian Exchange Limited; Ayodele Abioye, Acting CEO, BUA Foods Plc; Alhaji Kabiru Rabiu, Group Executive Director, BUA Foods Plc; Isyaku Rabiu, Executive Director, BUA Foods Pl and Seyi Osunkeye, Non-Executive Director, NGX during the Closing Gong Ceremony in commemoration of BUA Foods Plc Listing at the Exchange on Tuesday, January 18, 2022, in Lagos.

…BUA Foods Plc Engages Stakeholders Through NGX Facts Behind the Listing

Olushola Okunlade Writes

Nigerian Exchange Limited (NGX or The Exchange) started the year off with the listing by the introduction of BUA Foods Plc on the Main Board of The Exchange.

In keeping with its practice of intimating stakeholders with details of notable transactions such as these, NGX hosted the Management of BUA Foods to a virtual Facts Behind the Listing and Closing Gong Ceremony on Tuesday, 18 January 2022.

Speaking at the event, Chief Executive Officer, NGX, Mr. Temi Popoola, commended BUA Foods Plc for taking the bold step to join its subsidiary company, BUA Cement, as a public listed company on The Exchange. He further stated, “The listing of BUA Foods Plc on The Exchange reaffirms the confidence that leading Nigerian corporates have in NGX as the partner of choice for raising capital and enabling sustainable growth and development. I must commend the efforts made by the Management of BUA Foods towards this listing and the roles played by all the professional parties to this transaction including; Stanbic IBTC Capital Limited, Rand Merchant Bank Nigeria Limited, UCML Capital Limited, APT Securities Limited, and CardinalStone Securities Limited.”

“At NGX, this milestone transaction is in line with our strategic objectives to improve listings and enhance investors’ participation in our market. As a multi-asset Exchange, NGX is strategically positioned to be the preferred listing and investment destination connecting Nigeria, Africa, and the world. I must, therefore, encourage capital market players and enthusiasts at home and abroad to pay closer attention to the plethora of opportunities available in our market both to list securities and make the most of their investments,” Mr. Popoola added

L – R shows Haruna Jalo-Waziri, Managing Director, Central Securities Clearing System (CSCS) Plc; Temi Popoola, CFA, Chief Executive Officer, Nigerian Exchange Limited; Ayodele Abioye, Acting CEO, BUA Foods Plc; Alhaji Kabiru Rabiu, Group Executive Director, BUA Foods Plc; Isyaku Rabiu, Executive Director, BUA Foods Pl and Seyi Osunkeye, Non Executive Director, NGX during the Closing Gong Ceremony in commemoration of BUA Foods Plc Listing at the Exchange on Tuesday, January 18, 2022 in Lagos. — Left-Right: Haruna Jalo-Waziri, Managing Director, Central Securities Clearing System (CSCS) Plc; Temi Popoola, CFA, Chief Executive Officer, Nigerian Exchange Limited; Ayodele Abioye, Acting CEO, BUA Foods Plc; Alhaji Kabiru Rabiu, Group Executive Director, BUA Foods Plc; Isyaku Rabiu, Executive Director, BUA Foods Pl and Seyi Osunkeye, Non-Executive Director, NGX during the Closing Gong Ceremony in commemoration of BUA Foods Plc Listing at the Exchange on Tuesday, January 18, 2022, in Lagos.

On his part, the Chairman, BUA Group Plc, Abdul Samad Rabiu, CON, represented by Group Executive Director, BUA Foods Plc, Alhaji Kabiru Rabiu stated, “Today for us is very historic and we are excited to begin the year with the listing. The population of Nigeria is over 200million and our food production capacity is still not enough to meet current demands. However, with the listing of our food business on the NGX, there is high hope for Nigeria in terms of building capacity for food sufficiency. We are, therefore, positioning our brand to take advantage of export opportunities through our strategically located plants from which foreign exchange can be generated both for the company and the economy. As a listed company, BUA Group has benefitted first-hand from NGX’s efforts to chart a path for the sustainable development of the Nigerian economy. It has, therefore, been exciting for BUA Foods to go through a similar journey and we are confident that by leveraging the collaborative approach prevalent in the market, the entire group of companies will be equipped to increasingly deliver value to its shareholders/ We certainly look forward to benefitting from the new opportunities that have opened up to as on the platform of The Exchange”.

It is noteworthy that 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. Following the admission of BUA Foods’ shares on the Main Board of The Exchange on Wednesday, 5 January 2022, the company has experienced an upward trend in share price, market capitalization along with the trading activity.

Post Views: 5

Related Topics:#BUA #buafoods #buafoodsplc #buagroup #NGX #ngxceo #ngxgroup

Up Next

NGX, SEC Strengthen Alliance To Further Market Development

Don't Miss

BUA Foods Plc Makes Impressive Debut On Listing, Beats NGX Closing Gong

Click to comment

Capital Market

NGX Group To Celebrate 2023 International Women’s Day 2023, Ring Bell For Gender Equality

Published

4 weeks ago

February 22, 2023

Business Echo Magazine

NGX Group of Companies 2023 International Women's Day and Ring the Bell for Gender equality

Olushola Okunlade Writes

NGX Group of Companies plans to celebrate 2023 International Women’s Day and Ring the Bell for Gender equality.

NGX Group of Companies recognises that investing in women’s empowerment in the workplace, marketplace, and community is of strategic importance to business growth and sustainability.

For this reason, NGX Group has chosen to celebrate IWD as part of the global UN SSEI event hosted by over 80 securities exchanges in collaboration with the UN Global Compact, UN Women, IFC, and WFE (the “Global Partners”).

The theme of this year’s celebration is ‘Embrace Equity’ and it seeks to celebrate women’s achievements, raise awareness about discrimination and take action to drive gender parity. To this end, our 2023 IWD celebration would build on the global theme, Embrace Equity.

Date: Wednesday, 8 March 2023
Time: 1:00 pm – 2:30 pm (WAT)
Venue: Zoom & Live streamed on YouTube

Participants are to register to attend: bit.ly/ngx-iwd-2023

Post Views: 17

Capital Market

Domestic Investors Shun Risks, Stocks On 5-Month Rally

Published

1 month ago

February 22, 2023

Business Echo Magazine

Domestic Investors Shun Risks, Stocks On 5-Month Rally

Olushola Okunlade Writes

Few days to go before Nigeria’s highly anticipated general elections, domestic investors in the local bourse are scooping up positions in stocks, shunning potential risks from the impacts of voter’s choices.

Nigerian Exchange Limited (NGX) All-Share Index (ASI) is up 5.80% already in 2023 as of market close on 20 February 2023, maintaining a bullish run from September 2022. Data from NGX revealed that this has been a result of the outsized participation from domestic investors, who currently occupy 84% of total transactions conducted on the Exchange.

Foreign participation in the local bourse has so far moderated in recent years due to issues around forex liquidity and monetary policy, placing their turnover at 16% according to the December 2022 edition of the Domestic and Foreign Portfolio Investment Report of the Exchange. Analysts have commented that this is in due part a result of unimpressive yield in fixed-income securities, pushing investors to buy up fundamentally strong stocks with attractive dividend yields.

Historically, the market has typically experienced volatility during election season with some notable years, particularly the 1999 election – which saw change from military rule – and 2015 election – which saw the first incumbent defeat at the polls – experiencing declines pre-election. The positive domestic investor sentiment, according to analysts, has been driven mostly by strong earnings releases and dividend payouts announced by companies in the wake of earnings season. However, some have advised cautious trading as the 2023 elections approach but maintained their positive outlook on dividend yields and capital appreciation in bellwether stocks.

An analyst with Parthian Securities, Azeezat Awonuga, whilst commenting on the market with CNBC Africa said that investors are poised to hunt for gains in the stock market as the fixed income yields have moderated in recent times. “As we anticipate earnings from the banking sector which comprises about 60% of the volume in the market and also form the bulk of the fundamentals, positive earnings will push investors to plow more funds into the market,” she stated.

Another investment research analyst from Investment One Capital Management Limited, Akosile Oluwasanmi noted to Channels that uncertainties around the elections and the cash crunch in the economy could dampen investor sentiment into taking profits but positive corporate earnings could also see investors increasing their positions.

Post Views: 7