AVA Capital Plc Lists on NGX with N37.5bn Capitalisation

AVA Capital Plc has been officially admitted to the Main Board of the Nigerian Exchange Limited (NGX) following the listing by introduction of its 5 billion ordinary shares priced at N7.50 each, resulting in a market capitalisation of N37.5 billion. This listing is a significant milestone for the company, reflecting its commitment to sustainable growth, strong corporate governance, and long-term value creation.

During the “Facts Behind the Listing” ceremony held recently in Lagos, Kayode Fadahunsi, Chief Executive Officer of AVA Capital Plc, explained that the listing by introduction means that existing shares are admitted to trading without issuing new shares or raising capital, thus avoiding shareholder dilution. Fadahunsi described this admission as a defining moment for the company, emphasizing the establishment of a resilient institution with a clear growth strategy.

Jude Chiemeka, Chief Executive Officer of Nigerian Exchange Limited, remarked that this admission signifies the ongoing confidence of businesses in Nigeria’s capital market as a platform for sustainable growth.