Skyway Aviation Handling Company (SAHCO) Plc said it is set to offer for sale 406.074 million shares to the Nigerian public through an Initial Public Offer (IPO) at N4.65 per share. The shares are currently owned by Sifax Group and other shareholders
This offer is by way of an offer for sale and not an offer for subscription as the proceeds of the sale would be going to the vendor, the owners of the company and not to SAHCO.
Vertiva Capital Management Limited, the lead issuing house, assured the investing public that the business plan of SAHCO is fully funded adding that since the company was privatised that the net asset has grown from N3 billion to N15 billion as a result of massive investment in the infrastructure of the company by the Sifax Group.
Speaking with journalists in Lagos yesterday, director-general of Bureau of Public Enterprises (BPE), Alex Okoh described the move as an important transaction for the BPE as there has not been a major IPO for the past few years.
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