Consumer Goods Company BUA Foods Plc, trading at N227.50, has surpassed N4 trillion in market capitalization after a robust surge on the Nigerian Exchange.
The fast-moving consumer products giant soared to N4.095 trillion, with its share price rising to N227.50 ahead of Q4 results projections. BUA Foods’ market price has moved slowly even after its results were released, since the Naira’s depreciation rattled the sector and customers’ wallets. The better attitude in the Nigerian Bourse, as well as fresh ticker re-ratings across important indexes, have been primary drivers of firm market valuation rise.
BUA Foods Plc is expected to release its fourth quarter of 2023 earnings scorecard in February, according to regulatory requirements for companies listed in the local bourse. For the company, there was no information about director dealings since 2022.
MarketForces Africa reported that BUA Foods Plc listed 18 billion shares on the Nigerian Exchange’s first trading day in 2022 at N40 per share by way of introduction. The company became a public company following approval to list on the main board of the Nigerian Exchange.
