Skyway Aviation Handling Company (SAHCO) Plc on April 23rd listed its entire paid up share capital of 1.35 billion shares on the Nigerian Stock Exchange (NSE). The shares were listed at N4.65 per share.
Managing Director, Skyway Aviation Handling Company (SAHCO) Plc, Mr Basil Agboarumi, said the company decided to list on the NSE in line with transaction agreements it had with the Bureau of Public Enterprises (BPE) when undergoing the privatisation process.
He said the listing will give Nigerians the opportunity to participate in the company’s growth story.
“The listing will also improve the liquidity and tradability of the company’s shares, increase the company’s visibility and credibility in the Nigerian market and beyond,” Agboarumi said.
He added that the listing would also broaden the company’s access to capital in order to fund its future growth initiatives.
Agboarumi said the key investment highlights that would attract investors were the company’s sound business model and scalable franchise, strong brand name and reputation, best-in-class facilities and experienced management team with deep expertise and competence.
He stated that the future strategy of the company to grow was to expand service offerings, enter into strategic alliances and partnerships, increase customer lifetime value, develop the skills of employees and manage cost.
Chief Executive Officer, Nigerian Stock Exchange (NSE), Mr Oscar Onyema, said SAHCO was the first company under the last privatisation programme to successfully finalise its listing on the NSE.
He described the company as a good example to other companies.
Onyema, who was represented by Executive Director, Regulations, Nigerian Stock Exchange (NSE), Ms Tinuade Awe, said SAHCO would be adding N6.29 billion to the market capitalisation of the equities market.
He said the listing of SAHCO on the NSE showed the confidence the company has in the exchange.