SAHCO lists 1.35 billion shares on NSE at N4.65

Skyway Aviation Handling Company (SAHCO ) Plc  has listed 1.35 billion shares paid up share capital of 1.35 billion shares on the Nigerian Stock Exchange (NSE) yesterday.

The company officially became a public limited liability company on Tuesday by way of an initial public offering, which was undersubscribed by 35 per cent

The listing will give Nigerians the opportunity to participate in the company’s growth story also improve the liquidity and tradability of the company’s shares,as well increase the company’s visibility and credibility in the Nigerian market and beyond,

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.

The Chief Executive Officer, SAHCO, Mr Basil Agboarumi, said the company decided to list on the NSE, firstly, because it was one of the agreements it had reached with the BPE when undergoing the privatisation process.

He said, “This is in partial compliance (as approved by the BPE) with the share sale and purchase agreement executed in respect of the Federal Government’s divestment of 100 per cent equity stake in the erstwhile Skypower Aviation Handling Company Limited.

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.

Onyema, 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.

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