BUA Foods Plc  has commenced  operations of its rice business  in addition to a total of 1.4million tons of flour milling and 500,000 tons of pasta also expected this year. The company said its rice milling plant has the capacity to produce 200,000 metric tons yearly.

“We are partners and key players in Nigeria’s rice revolution,” the acting Managing Director, BUA Foods Plc, Ayodele Abioye said on Tuesday at the company’s Facts Behind the Listing presentation on the Exchange.

Since its listing on the Nigerian Exchange, BUA Foods Plc has risen most on the Bourse by 54.5percent, as its share price stood at N61.80 at the close of trading on Monday, January 17.

The listing of BUA Foods’ shares had added N720billion to the market capitalisation of NGX, further boosting liquidity in the Nigerian capital market and providing opportunities for wealth creation.

The “Facts Behind the Listing” event was an interactive session with capital market stakeholders as it created a forum for discourse and dissemination of information. Given that the market is driven by timely, relevant, and accurate information, interactions such as the Facts Behind the Listing remains critical in the decision-making for all investors.

This disclosure comes on the heels of the company showcasing its robust history even as it repositions for further growth in an attractive sector.

“Nigeria’s favourable demographic parameters propel ongoing and future growth of its consumer markets. The question is: how does the company tap into this opportunity? It will leverage sustainable, efficient and scalable platforms supported by a well-defined strategy to ensure leading market positions”, Abioye said.

Following the admission of BUA Foods’ shares on the Main Board of the Exchange on Wednesday, January 5th, 2022, the company has experienced an upward trend in share price, market capitalization along with trading activity. This communicates the markets appetite and investors alignment with the company’s strategic goal and a willingness to participate in the growth story.

Additionally, as at Friday 14th January, BUA Foods became the largest company by market capitalization in the consumer goods sector, increasing the total equity market capitalization by over 4percent.

This listing marks a new beginning for BUA Foods Plc who plays a critical role in the FMCG industry as the company can also leverage other Capital Market Products and services the Exchange offers to achieve their strategic objectives.”