Sunday, September 26, 2021

    SAHCO seals 49% divestment deal, targets first IPO in 4 years

    Must read

    Gbenga Samson
    Samson Gbenga Salau [Editorial Board Adviser] Gbenga Samuel Salau is a professional journalist with over 17 years experience in journalism, he is a graduate of Communication and Language Arts, University of Ibadan. On completion of his youth service, he joined The Guardian as a freelance journalist and was later absorbed as a staff. While in the University, he was a campus journalist reporting for the Independence Hall and Faculty of Arts Press Clubs. As a campus journalist, he won the following awards; Independence Hall Press Best News writer; University of Ibadan Union of Campus Journalists’ Best News Reporter/Writer; First Runner-up, Reuben Abati Award for Investigative Journalism; Association of Faculty of Arts Students’ Press Best Reporter; University of Ibadan Union of Campus Journalists’ Best Political Writer; Winner, Reuben Abati Award for Investigative Journalism, and University of Ibadan Union of Campus Journalists’ Best Interviewer. He served the Association of Communication and Language Arts Students, as the Public Relation Officer, the same year he was appointed the News Editor of the Association of Faculty of Arts Students Press. The following session, he was made the General Editor, and a member of the 13-man University of Ibadan Students’ Union Transition Committee. As a reporter in The Guardian, in 2014, he won the Promasidor Quill Award Best Report on Nutrition and DAME Business Reporting category. In the 2015 edition of the Promasidor Quill Award, he won the best Report on Nutrition and Brand Advocate Categories, while in 2016, he won the NMMA Print Journalist of the Year, first runner-up Golden Pen Reporter of the Year and SERAs CSR Awards. Gbenga Salau loves traveling, reading, and listening to songs with good lyrics no matter the genre.

    Skyway Aviation Handling Company, SAHCO Plc, Monday concluded arrangement to divest 49 percent of the company to the investing public.
    The divestment, which will take place in phases, has set sail with the signed offer documents for the floating of an Initial Public Offering (IPO) of about N1.9 billion, the first in the capital market after four years of primary market lull.
    Alex Okoh, director general for Bureau of Public Enterprises (BPE) at the signing explained that during the privatisation of SAHCO, the agreement was that 49 percent of the shares should be sold to the general public.
    “We are happy that the company is now offering these shares to the public so that many Nigerians will partake in the ownership of the company. It is better for many Nigerians to own the business. We are also happy that the current shareholders have been able to turnaround the entity. So we implore Nigerians to partake in this offer,” he said.
    The company which was privatised in 2009 and acquired by Sifax Group would be raising the fund by way of offer for sale of 406,074,000 ordinary shares of 50 kobo each at N4.65 per share.
    The offering is being undertaken to enable the current shareholders divest part of their stakes in the company.
    Also speaking at the signing ceremony, Taiwo Afolabi, chairman SAHCO said: “Based on the terms of the executed Share Sale and Purchase Agreement (SSPA) in respect of the privatisation of the erstwhile Skypower, the shareholders of the company are obligated to divest 49 percent equity stake in SAHCO to the investing Nigerian public, with 10 percent of the shares to be divested, sold to the staff of the company.
    Further to this, the company sought and obtained the approval of the Bureau of Public Enterprises (BPE) for a phased divestment in view of current market conditions”

    - Advertisement -spot_img

    More articles

    - Advertisement -spot_img

    Latest article

    WP to LinkedIn Auto Publish Powered By :