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BUA Foods Plc, the newly listed arm of BUA Group, on Monday reached a market capitalization of N1.053 billion just four days after listing on the Nigerian Exchange Limited (NGX).

BUA Foods listed 18 billion ordinary shares at 40 Naira per unit at the main board of NGX on Wednesday 5 2022. At 40 Naira per share, the market capitalization of BUA Foods was 720 billion Naira. However, due to its appeal to local and foreign investors, the stock rose more than 20% in the first two trading days to reach 48.4 naira per unit.

Demand for BUA Foods continues as investors recouped 204,599,864.00 on Friday, taking the price to 53.2 Naira per unit. On Monday, another 101,356,308 shares were traded at 58.5 Naira to boost market capitalization to 1.053 trillion Naira from 720 billion Naira just four trading days ago.

The company has now added 1.05 trillion naira to NGX liquidity in line with stock exchange projections. “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 around the world.” NGX said.

BUA Foods Plc is currently focused on growing, processing, manufacturing, producing, blending, packaging, preserving, extracting, refining, importing, exporting, buying, selling , trade and trade in all kinds of food, consumables, food materials or derivatives. as raw materials for the manufacture of all kinds of foods, food products and ingredients for the manufacture of all kinds of foods and consumables.

BUA Foods was formed in November 2021 following a restructuring by way of a CAMA Section 711 program (the “Restructuring”) between BUA Sugar Refinery Limited (“BUA Sugar Refinery”), IRS Flour Mills Limited, IRS Pasta Limited, BUA Rice Limited, BUA Oil Mills Limited and BUA Foods Limited (the “Entities”), following which BUA Sugar Refinery (a private limited company, incorporated on April 13, 2005 and started trading in September 2008) became the surviving entity. As part of the restructuring, the expanded entity’s name was changed to BUA Foods with its operations reorganized into five business divisions: sugar, flour, pasta, rice and edible oils. In December 2021, the Company was transformed into a public limited company. BUA Foods is affiliated with various group companies under the BUA brand that cover the food and infrastructure sectors.