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

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.combine themThe 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.“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.”, Abdul Samad Rabiu, with a current net worth of $4.

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.

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Nigerian stocks add N172 billion hit five-week peakBUA Cement and lenders Zenith Bank and Stanbic IBTC Bank helped pushed total gains on Tuesday.
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