Skyway Aviation Handling Company Plc (SAHCO) has expressed readiness to expand its business beyond Nigeria into other West African markets to create long term value to shareholders.
Mr Basil Agboarumi, the company’s Managing Director, stated this at its ‘facts behind the offer’ at the Nigerian Stock Exchange (NSE) in Lagos.
Agboarumi said that the company’s future strategy was to create long-term shareholder value through profitable operation and expansion of its business beyond Nigeria and into other West African markets.
He said that the company’s vision was to become the leading provider of passengers, ramp and cargo handling services in the West African sub–region.
Agboarumi, who was represented by Mr Olaniyi Adigun, Executive Director, Sales & Marketing, said that it would also expand service offerings to hospitality and logistics businesses.
He added that the company would strengthen customer relationship management and customer retention, embark on business innovation, strategic alliances and partnerships to boost market share.
He noted that it would venture into hospitality and logistics businesses to strengthen and ensure constant revenue.
Explaining the reasons behind the company’s current initial public offering (IPO), Agboarumi said that it would afford Nigerians the opportunity to participate in SAHCO’s growth story.
He said that the offer and listing would improve the liquidity and tradability of the company’s shares and as well increase its visibility and credibility in the Nigerian market and beyond.
According to him, it will broaden SAHCO’s access to capital in order to fund growth initiatives.
The company is offering to the investing public an IPO of 406.07 million ordinary shares of 50k each at N4.65 per share.
The offer, which opened on Nov. 12, would close on Dec. 19, with Cordros Capital Ltd and Sigma Securities Ltd as joint issuing house and lead stockbroker, respectively.