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SAHCO lists 1.3bn shares on NSE at N4.65

Skyway Aviation Handling Company PLC (SAHCO) has been listed on the Nigerian Stock Exchange (NSE) with N1,353,580,000 shares priced at N4.65 few months upon going public.

The official enlisting of the foremost aviation handling company took place at the trading floor of the NSE on Tuesday with SAHCO’s board of directors, top management of SAHCO, NSE, Bureau of Public Enterprise (BPE), among others in attendance.

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Chairman of SAHCO, Dr. Taiwo Afolabi, beat the gong at the trading floor to signify the listing of SAHCO in the NSE.

Afolabi expressed delight at how far SAHCO had gone to become a success story and a company that could compete favourably with any ground handling company in the world.

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He said SAHCO had entrenched a track record of excellent service delivery in accordance with global best practices.

Chief Executive Officer of NSE, Oscar Onyema, represented by an Executive Director, Ms. Tinuade Awe, charged SAHCOL to be transparent while commending the effort of NSE and BPE at making the listing a reality.

Director General of BPE, Alex Okoh, hailed SAHCO for its unblemished records, stressing that, “SAHCO is a child in whom the bureau is well pleased.”

According to him, “BPE believes that state-owned enterprises would be better managed when listed.”

Okoh also said the Share Purchase Agreement (SPA) was adopted to avoid the accusation that government was selling state-owned assets to government cronies.

The Managing Director/CEO of SAHCO, Basil Agboarumi, promised that the company would not disappoint with the backing of its management.

He emphasised that one of the reasons SAHCO was listed was to respect the SPA signed between the Federal Government and SIFAX Group when SAHCO was bought by SIFAX during privatisation.

He noted that SAHCO was the only ground handling company that had airline background since it was one of the subsidiaries of the defunct Nigeria Airways.

SAHCO, which is the 163rd company to be listed in the NSE, is an Aviation Ground Handling Company (AGHC).

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