Kayode Tokede
AVA Capital Plc has been admitted to the Main Board of Nigerian Exchange Limited (NGX) following the listing by introduction of its 5 billion ordinary shares at N7.50 per share, with a market capitalisation of N37.5 billion.
The listing marks a significant milestone in the Company’s growth journey, reinforcing its commitment to sustainable growth, strong corporate governance and long-term value creation, while enhancing its visibility within Nigeria’s capital market.
Speaking at the “Facts Behind the Listing” ceremony in Lagos recently, Chief Executive Officer of AVA Capital Plc, Kayode Fadahunsi, stated that by listing by introduction, existing shares are admitted to trading.
“No new shares are issued and no capital is raised. No shareholder is diluted. Price is discovered by the
market from the first day of trading,”he said.
Fadahunsi described the admission as a defining moment in the Company’s evolution. “Our admission to the Main Board of Nigerian Exchange is more than a listing; it is a public affirmation of the business we have built and the future we are committed to creating.
“We have established a resilient institution with a clear growth strategy, strong governance culture and an unwavering focus on creating sustainable value for our shareholders. Becoming a listed company deepens our accountability, broadens our visibility and positions us to seize new opportunities as we continue our growth journey.”
Speaking earlier, the Chief Executive Officer of Nigerian Exchange Limited, Mr. Jude Chiemeka, said the admission reflects the continued confidence of businesses in Nigeria’s capital market as a platform for sustainable growth.