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Aviation Handling Company PLC (SAHCO) has been listed on the Nigerian Stock
Exchange (NSE) with 1,353,580,000 shares priced at N4.65 few months after going
public.
This
event which took place at the Trading Floor of the NSE, was attended by SAHCO’s
Board of Directors, Top Management of SAHCO, NSE, Bureau of Public Enterprise,
Crème de la crème of the Stock Market.
The
event kicked off with a Post Listing Compliance Presentation by Ms. Tinuade
Awe, Executive Director, Regulations to sensitise the SAHCO Board of Directors
and Top Management about the expectations of the NSE towards SAHCO.
The
Chairman of SAHCO, Dr Taiwo Afolabi, beat the gong at the Trading Floor to
signify the listing of SAHCO in the NSE. He expressed his pride at how far the
company has gone under his leadership making SAHCO a success story and a
company that can compete favourably with any Ground Handling Company in the
world with its excellent service delivery which is according to global best
practices.
At
the Facts Behind the Listing event, Ms. Tinuade Awe, who represented the
Director General of the NSE welcomed SAHCO to the NSE and encouraged the
company to be transparent while commending the efforts of the NSE and the
Bureau of Public Enterprise (BPE) at making the Listing a reality.
The
Managing Director/CEO, Basil Agboarumi during his presentation appreciated the
NSE for the historical event and promises not to disappoint with the backing of
SAHCO’s management.
He
emphasized that one of the reasons SAHCO listed, is to respect the Share
Purchase Agreement that was signed between the Federal Government and SIFAX
Group when SAHCO was bought by SIFAX Group during privatization.
Agboarumi
stressed that the listing is an avenue for the Nigerian Public to be part of
SAHCO’S success story.
He
buttressed that apart from the monetary benefit to the public and the
sustainability of the company, the listing will increase the visibility of the
company to the world.
He
also mentioned that SAHCO is the only Ground Handling Company that has an
Airline background since it was one of the subsidiaries of the defunct Nigerian
Airways.
Speaking
during the event, Alex Okoh, the Director General of BPE, commended SAHCO for
its unblemished records.
He
stressed that ‘SAHCO is a child in whom the Bureau is well pleased’. BPE believes
that state-owned enterprises would be better managed when listed. Okoh also
said that the Share Purchase Agreement was adopted to avoid the accusation that
government was selling State-owned assets to government cronies.
SAHCO
which is the 163rd company to be listed in the NSE is an Aviation Ground
Handling Company. The company whose core values include Reliability,
Proactiveness, Mutual Respect, Responsiveness, Empathy is a brand in line with
global standards.
SAHCO
is involved in Passenger Handling, Ramp Handling, Cargo and Warehousing,
Baggage Handling and Reconciliation, Aviation Security, Premium Lounge and
other aviation ground handling services.
Credit:
www.woleshadare.net
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