Skyway Aviation set for listing on NSE

A ground handling firm, Skyway Aviation Handling Company Ltd. (SAHCOL), has intensified plans to be enlisted on the floor of the Nigerian Stock Exchange (NSE) within the next few months.

Its Managing Director of SAHCOL, Mr Basil Agboarumi, made this known to newsmen on Sunday in Lagos.

Agboarumi said that the company was willing to offer its shares to the public.

“It will happen very soon. The management and board are ready to offer SAHCOL on the floor of the NSE.

“We are discussing with the Bureau of Public Enterprise (BPE) and the Securities and Exchange Commission (SEC) and other necessary authorities to make this happen,” he said.

Our correspondent reports that SAHCOL was once a subsidiary of the defunct national carrier, Nigeria Airways, before it was privatised by the Federal Government in 2009.

The company was acquired by SIFAX group as one of its conglomerates and currently has Mr Taiwo Afolabi as its Chairman, Board of Directors.

The BPE had directed that the company, which currently handles ground services for both local and international airlines, should be listed on the NSE in line with the Public – Enterprises (Privatisation and Commercialisation) Act 1999.

If the enlistment is successful, SAHCOL will become the second ground handling company in the country’s aviation industry to be on the floor of the stock exchange.

The first was the Nigerian Aviation Handling Company (NAHCO) Plc, which was privatised over a decade ago.