RMB advises BUA foods on NGX listing

Client challenge

BUA Foods was looking to expand its existing business operations and introduce new products to the Nigerian and West African markets. However, in order to achieve these objectives, BUA Foods required enhanced access to capital from local and global investors to fund its necessary capital requirements.

RMB's solution

RMB’s Corporate Finance team provided valuable advice in evaluating and selecting the most efficient transaction structure and pathway for the execution of the transactions to meet the necessary capital raising requirements for BUA Foods. The team advised key stakeholders to the transaction, including the shareholders and the investing community.

Client benefits

BUA Foods has consolidated its major role in Nigeria's Food and FMCG industry. As of 25 February 2022, the company’s share price increased to N61.40, given the high demand from the investing community. 

The company is currently the second largest by market capitalisation in the Consumer Goods sector of the Exchange. The listing of BUA Foods is a milestone in the evolution of the business and creates an avenue for local and international investors to participate in this success story. 

BUA Foods’s listing on the NGX positioned the company to access long-term capital.

At the time of listing, BUA Foods had listed a total of 18 billion shares at N40.00 per share, representing the company’s total issued share capital. BUA Foods has consolidated its major role in Nigeria's Food and FMCG industry.