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SAHCOL Gets Regulatory Approval to List Shares on NSE Via IPO

By Modupe Gbadeyanka

An approval has been given to Skyway Aviation Handling Company (SAHCOL) Plc to list its shares on the trading platform of the Nigerian Stock Exchange (NSE).

Business Post confirmed that the approval was given by the stock exchange management on Friday, November 2, 2018.

This newspaper gathered that at the weekend that SAHCOL was given the nod to list a total of 1,353,580,000 ordinary shares of 50 kobo each on the stock exchange.

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In addition to this, the firm was also given the approval to offer for sale through an Initial Public Offering a total of 406,074,000 ordinary shares of 50 kobo each in Skyway Aviation Handling Company Plc at N4.65k per share.

Business Post learnt that the issuing house and financial advisers for the transaction are Vetiva Capital Management Limited and Cordros Capital Limited.

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Stockbrokers for the deal are Sigma Securities Limited, Apel Asset Limited, APT Securities and Funds Limited, City-Code Trust & Investment Company Limited, Dynamic Portfolio Limited, Fortress Capital Limited, Planet Capital Limited, Pilot Securities Limited, and Vetiva Securities Limited.

Skyway Aviation Handling Company Limited (SAHCOL) is 100 percent owned by the Sifax Group owned by business mogul, Mr Taiwo Afolabi.

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The firm was incorporated as an Aviation Ground Handling Service Provider under the Nigerian Company & Allied Matters Act of 1990.

SAHCOL which was formerly known as Skypower Aviation Handling Company Limited, before it was privatized and handed over to the Sifax Group on December 23, 2009, was carved out of the liquidated Nigeria Airways Limited as part of the Nigerian Federal Ministry of Aviation’s reform of 1996.

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Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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