• The Membership Club
  • #EndSARS Dashboard
  • PT Hausa
  • About Us
  • Advert Rates
  • Careers
  • Contact Us
  • Digital Store
Wednesday, February 1, 2023
Premium Times Nigeria
  • Home
  • Gender
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Opinion
  • Health
    • News Reports
    • Special Reports and Investigations
      • Health Specials
    • Features and Interviews
    • Multimedia
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Special Reports/Investigations
    • Features and Interviews
    • Multimedia
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Projects & Partnerships
    • AUN-PT Data Hub
    • #EndSARS Dashboard
    • Parliament Watch
    • #PandoraPapers
    • Panama Papers
    • Paradise Papers
    • AGAHRIN
  • Home
  • Gender
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Opinion
  • Health
    • News Reports
    • Special Reports and Investigations
      • Health Specials
    • Features and Interviews
    • Multimedia
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Special Reports/Investigations
    • Features and Interviews
    • Multimedia
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Projects & Partnerships
    • AUN-PT Data Hub
    • #EndSARS Dashboard
    • Parliament Watch
    • #PandoraPapers
    • Panama Papers
    • Paradise Papers
    • AGAHRIN
Premium Times Nigeria
BUA Group Ad BUA Group Ad BUA Group Ad
A BUA Foods Factory

A BUA Foods Factory

BUA Foods lists 18 billion shares, now Nigeria’s second biggest consumer goods’ firm by market value

BUA Foods was listed at N40 per unit but appreciated by 10 per cent on the day of its admission, putting its valuation at N792 billion.

byRonald Adamolekun
January 5, 2022
Reading Time: 2 mins read
0

BUA Foods Plc attained quoted company status after it listed 18 billion ordinary shares in Lagos on Thursday, the firm said, the high point of weeks of transformation and meeting authorities’ as well as regulators’ demands.

The milestone implies the food processing firm has gained entry into the Nigerian Exchange Limited (NGX)’s main board (the bourse’s second highest listing segment), and at the same time become its biggest consumer goods company by market capitalisation after Nestle Nigeria in a sector that comprises other powerhouses like Nigerian Breweries and Flour Mills of Nigeria.

BUA Foods was listed at N40 per unit but appreciated by 10 per cent on the day of its admission, the maximum upper price movement the NGX allows, putting its valuation at N792 billion.

In December, BUA Group – the parent company – spun off its five food businesses and went ahead to combine them into a single company ahead of listing them as a separate entity.

The cement arm, BUA Cement, earlier debuted on the NGX about this time in 2020 and is now worth roughly N2.4 trillion, more than double its value when it listed.

“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,” said Ayodele Abioye, the acting managing director of BUA Foods.

READ ALSO: Dangote Cement to resume purchase of own shares

“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.”

Abdulsamad Rabiu, chairman BUA Group

Atiku-Okowa AD

Majority-owned by Africa’s sixth richest man, Abdul Samad Rabiu, with a current net worth of $4.6 billion according to Forbes’s estimate, BUA Foods’ offerings encompass manufacturing flour, pasta, rice, sugar and edible oils.

It is looking to start off the production of 200,000 tons of white fortified premium quality this year and complete an expansion project in flour milling and pasta in Port Harcourt come June.

Share this:

  • Twitter
  • Facebook
  • WhatsApp
  • Telegram
  • LinkedIn
  • Email
  • Print



Support PREMIUM TIMES' journalism of integrity and credibility

Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.

For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.

By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.

Donate



TEXT AD: Call Willie - +2348098788999

NAHCON State AD NAHCON Tour Operator AD NAHCON Cargo Operator AD

Kogi AD

TEXEM Advert





PT Mag Campaign AD

Previous Post

AFCON: NFF keeping hope alive for Ighalo’s release

Next Post

UPDATED: Buhari insists on cattle grazing routes to resolve herders/farmers clashes

Ronald Adamolekun

Ronald Adamolekun

More News

Mele Kyari, NNPC GMD

UPDATED: NNPC takes over Addax Petroleum’s PSC assets

January 31, 2023
Presidential candidate of the People's Democratic Party, Atiku Abubakar

Atiku tackles Buhari over Moody’s downgrade, vows to fix economy

January 31, 2023
Bill and Melinda Gates

Gates foundation awards $35 million to African farmers

January 31, 2023
FILE PHOTO: Elon Musk presenting Starlink to the public

SpaceX announces Nigerian operation, first in Africa

January 31, 2023
Power Lines [Photo: energymixreport.com]

Transcorp Group adds 138MW to power generation capacity

January 31, 2023
Guinness logo

UPDATED: Guinness appoints non-executive director

January 30, 2023
Leave Comment

Our Digital Network

  • PT Hausa
  • Election Centre
  • Human Trafficking Investigation
  • Centre for Investigative Journalism
  • National Conference
  • Press Attack Tracker
  • PT Academy
  • Dubawa
  • LeaksNG
  • Campus Reporter

Resources

  • Oil & Gas Facts
  • List of Universities in Nigeria
  • LIST: Federal Unity Colleges in Nigeria
  • NYSC Orientation Camps in Nigeria
  • Nigeria’s Federal/States’ Budgets since 2005
  • Malabu Scandal Thread
  • World Cup 2018
  • Panama Papers Game
  • Our Digital Network
  • About Us
  • Resources
  • Projects
  • Data & Infographics
  • DONATE

All content is Copyrighted © 2022 The Premium Times, Nigeria

No Result
View All Result
  • Digital Store
  • Home
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Gender
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Health
    • COVID-19
    • News Reports
    • Investigations
    • Data and Infographics
    • Health Specials
    • Features
    • Events
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Research & Innovation
    • Data & Infographics
    • Special Reports/Investigations
    • Investigations
    • Interviews
    • Multimedia
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • #EndSARS Dashboard
  • AUN-PT Data Hub
  • Projects
    • Panama Papers
    • Paradise Papers
    • Parliament Watch
    • AGAHRIN
  • Opinion
  • PT Hausa
  • The Membership Club
  • DONATE
  • About Us
  • Advert Rates
  • Dubawa NG
  • Careers
  • Contact Us

All content is Copyrighted © 2022 The Premium Times, Nigeria