bua foods shares listed on NGX

BUA Foods Shares Performance From January 5, 2022 Till Date

Last Updated on January 27, 2022 by InfomediaNG

BUA Foods sold 1,006,998,462 units of its shares Wednesday, January 5, 2022, on the Nigeria Exchange Limited (NGX) less than 12 hours it was listed on the stock exchange with just 74 trades valued at NGN40,533,945,898.00 (NGN40.5billion)

BUAFoods Share Price January 27, 2022:

Opening price: NGN64.4

High:

Low:

Close: NGN64.40

Change:

Market Capitalisation: NGN1,159,200,000,000.00 (as of Friday, January 19, 2022)

Listed with the ticker BUAFOODS, BUA Foods Plc is one of the subsidiaries of BUA Group owned by billionaire Alhaji Abdul Samad Rabiu, who is worth $4.4Billion USD, according to Forbes

Consolidation:

On Wednesday, December 8, 2021, BUA Group consolidated its food conglomerates: pasta, sugar, rice and edible oil businesses into a single entity known as BUA Foods preparatory to January 5, 2021 listing.

“Nigerian investors would be given opportunity to invest in the Company for continuous growth. We will list the Company soon and Nigeria will have opportunity to contribute their resources to consolidate its leading position in the food industry,” BUA Group Chairman had said.

Bua Foods is listed in the consumer goods sector of the NGX with a total of 18,000,000,000 (eighteen billion) shares, a statement from the company says.

The elated BUA group Chairman Abdul Samad Rabiu, said,:

“I am delighted that yet another member of BUA Group has been listed on the NGX.

“We appreciate the continued support of our stakeholders — financial advisers, stockbrokers, suppliers, customers, consumers and members of staff.”

BUA Foods Shares Price Timeline

 

Date Opening Price High (NGN) Low (NGN) Close (NGN) Trades Volume Value (NGN)
01/05/22 40 40 40.25 44.00 74 1,006,998,462 40,533,945,898.00
01/06/22 44 48.40 44.10 44.40 123 11,289,437 544,692,788.80
01/07/22 48.4 53.20 49.10 53.20 180 204,599,864 10,064,092,986.55
01/10/22 53.2 58.50 58.50 58.50 152 101,356,308 5,929,334,018.00
01/11/22 58.5 64.35 64.35 64.35 206 51,526,040 3,315,699,168.00
01/12/22 64.35 66.00 66.00 66.00 247 1,108,895 73,422,285.50
01/13/22 66     66.00 152 727,307 44,459,342.45
01/14/22 66   62.50 66.00 124 102,569,612 6,761,053,104.10
01/17/22 66 61.80 61.80 61.80 89 1,227,814 76,535,521.45
01/18/22 61.8 64.40 64.40 64.40 85 312,550 19,553,102.30
01/19/22 64.4     64.4 81 951,185 59,287,579.35
01/20/22 64.4     64.40 63 841,824 51,538,434.45
01/21/22 64.4     64.4 27 72,538 4,473,812.10
01/24/22 64.4     64.4 61 341,666 21,032,724.00
01/25/22 64.4     64.4 25 48,412 2,997,996.60
01/26/22 64.4     64.40 25 9,802 605,542.40
01/27/22 64.4     64.40 29 27,030 1,637,344.75

Along with Airtel Africa (+10.0%), BUA Foods (+10.0%) were the top gainers, while Neimeth and Courtville recorded the largest losses of the day, according to data obtained from the NGX.
What does the listing mean?

By the listing, it means that the shares of existing BUA Foods’ shareholders have been listed and they are free to trade their shares on the NGX.

The BUA Foods listing also means that NGN720billion has been added to the market capitalisation of listed equities, NGNX said optimistically that wealth will be created while boosting liquidity in the Nigerian capital market.

BUA Foods Profile:

  • Market Classification: Main Board
  • Ticker: BUAFOODS
  • Trading Name: BUAFOODS (BUA Foods Plc)
  • Date of incorporation: April 13, 2005
  • Date listed: January 5, 2022
  • Sector: Consumer Goods
  • Subsector: Food products
  • Shares outstanding: 18,000,000,000
  • Nature of business: Manufacturing, processing, and distribution of food products
  • Company address: PC 32, Churchgate Street, Victoria Island, Lagos
  • Email: info@buafoodsplc.com
  • Company website: https://www.buafoodsplc.com/
  • Stockbrokers: 1) APT Securities and Funds Limited and 2) CardinalStone Securities Limited
  • Registrars: Africa Prudential PLC
  • Market Capitalisation at Listing: NGN720,000,000,000.00

With the aim of maintaining its market leadership in food processing and agribusiness and take advantage of the export prospect presented by the African Continental Free Trade Area (AfCFTA), BUA Foods Plc was born on Wednesday, December 8, 2021.

The new BUA Foods houses five existing companies, they are:

  1. IRS Pasta
  2. IRS Flour
  3. BUA Rice Limited
  4. BUA Oil Mills Limited
  5. BUA Sugar Refinery Limited

IRS Pasta and IRS Flour

Its Pasta and flour plant which is the largest in Nigeria has a capacity to produce 250,000 tons of pasta per year, meeting the confectionery needs for bread, semolina.

With its 7 wheat storage silos capable of storing 32,000 tons, the company is production-ready to stop Nigeria’s reliance on the importation of pasta and flour.

Sugar Refinery Limited

BUA’s sugar refinery limited houses refining and plantations with its 2 ultra-modern and automated mega sugar refineries located in Lagos, Nigeria’s commercial capital and Eastern Sugar Refinery located in Port Harcourt, both have a total combined installed refining capacity of 1,500,000 metric tonnes. The sugar refineries have a milling capacity of 250,000 metric tonnes

In sugar plantations, it strategically acquired Lafiagi Sugar Company Ltd (LASUCO) located in Kwara State in 2008. It didn’t stop at that, it went further to invest heavily in establishing another in Kogi State known as Bassa Sugar Company.

The company’s acquisition of about 70,000ha of land in Kwara and Kogi is going to be a game-changer in a few months from now.

BUA Rice Limited

Hardly a day goes by without a typical Nigerian home consuming rice. BUA investment in rice plantation and production is highly strategic.

BUA Rice Mill in Kano is the largest at the time of this report. It has the capacity to produce 200,000 tonnes per annum while efforts to upgrade it to 1million metric tonnes per year is ongoing (as of January 6, 2022)

Apart from its out-growers Scheme which targets about 100,000 rice farmers in Jigawa and Kano, Bua Rice plantation in Kano is sitting on about 10,000hectares of land.

BUA Oil Mills Limited

BUA Oil Mills which was established in 2008, has two facilities, one in Kano (Nigeria Oil Mills, which it acquired in 2001) and BUA Oil Mills in Lagos. It produces oil from groundnut and cotton. It also produces animal feed and soap.

Recap:

On the second day of its listing (January 6, 2022), BUA Foods Shares Performance recorded another blast with 123 trades valued at NGN544,692,788.80. The BUA Foods share price opened at NGN44 and closed at 48.40, up by NGN4.4 on Thursday, January 6, 2022, that’s great news for investors.

References:
  1. BUA Group. “Foods”. buagroup.com. Retrieved January 5, 2022
  2. ProShare (December 10, 2021). “BUA Group Consolidates Food Businesses, Unveils BUA Foods”. proshareng.com. Retrieved January 5, 2022
  3. Featured Image By Bua Foods

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