AVA Capital adds N37.5bn market capitalization to NGX Main Board

AVA Capital Plc has officially joined the Main Board of the Nigerian Exchange Limited (NGX) following a listing by introduction. The company's 5 billion ordinary shares are now trading at N7.50 each, establishing a market capitalization of N37.5 billion.

This listing marks a significant achievement in AVA Capital's corporate journey, underscoring its dedication to sustainable growth, robust corporate governance, and long-term value creation. It is expected to significantly enhance the company's profile within Nigeria's dynamic capital market.

During the "Facts Behind the Listing" ceremony in Lagos, AVA Capital's Chief Executive Officer, Kayode Fadahunsi, explained that a listing by introduction involves admitting existing shares to trading without issuing new ones or raising capital. "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 stated.

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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.

Fadahunsi described the admission as a pivotal moment for the company. "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," he said. He added that AVA Capital has established a resilient institution with a clear growth strategy and a strong governance culture, focused on creating sustainable value for its shareholders. Becoming a listed entity increases accountability, broadens visibility, and positions the company to capitalize on new opportunities.

Jude Chiemeka, CEO of Nigerian Exchange Limited, commented that AVA Capital's admission reflects the sustained confidence businesses place in Nigeria's capital market as a platform for enduring growth.

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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.