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IPO: Liquidity is not a problem at SAHCO, says MD

By Peter Egwuatu

THE Managing Director/Chief Executive Officer, Skyway Aviation Handling Company SAHCO Plc, Mr. Basil Agboarumi, has said that the company is now way beyond liquidity challenges as it has grown revenue by over 100 percent since its privatisation.

Speaking at the company’s fact behind its ongoing Initial Public Offer, IPO, at the Lagos floor of the Nigerian Stock Exchange, NSE, last week, Agboarumi said: “SAHCO has the best asset base, cash flow and a confident management and we have grown our revenue by more than 100 percent. Liquidity is not a problem at SAHCO as we believe that we can do the right things. We are not there yet but we believe that we will keep churning out innovations in our business model in the long term. So I encourage investors who want to invest, to invest in the company’s shares.”

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Basil who was represented by SAHCO’s Executive Director, Sales and Marketing, Olaniyi Adigun, explained that the sale of the IPO will give Nigerians the opportunity to participate in the company’s growth story, improve the liquidity and tradability of the company’s shares, increase the company’s visibility in the Nigerian market as well as broaden SAHCO’s access to capital in order to fund the company’s future growth initiatives.

In his remark at the fact behind the offer presentation, Chief Executive Officer, NSE, Mr Oscar Onyema said: “We are pleased that SAHCO has chosen to use this platform to further inform the market of this ongoing transaction and other strategic and corporate developments.

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