AVA Capital Plc Admitted to NGX Main Board Through Listing by Introduction

 

AVA Capital Plc, an integrated Nigerian financial services group, officially listed on the Main Board of the Nigerian Exchange Limited (NGX) today through a Listing by Introduction, marking its transition to a publicly traded company.

The entire issued share capital of 5 billion ordinary shares of ₦1.00 each was admitted at a reference price of ₦7.50 per share, giving the company an opening market capitalisation of approximately ₦37.5 billion. The stock trades under the ticker AVACAP.

Unlike a traditional initial public offering, the Listing by Introduction involved no issuance of new shares and raised no fresh capital. The company said the move is designed to enhance market visibility, strengthen corporate governance and transparency, and deepen engagement with shareholders and the broader investment community.

AVACAP opened strongly on its debut. Shares traded as high as ₦8.25, a gain of about 10% from the listing price, lifting the company’s market value to around ₦41.25 billion. One market update reported volume of roughly 91 million shares and traded value of about ₦752 million on the first day. The relatively thin free float of about 20% (roughly 1 billion shares available for public trading) is expected to influence early price discovery and could contribute to higher volatility in the initial sessions.

AVA Capital operates as a diversified non-bank financial services group with four main verticals: investment banking, asset management through AVA Global Asset Managers, securities trading through AVA Securities, and trusteeship through AVA Trustees. 

Managing Director Olukayode Fadahunsi described the listing as “a natural progression in AVA Capital’s evolution as a long-term institution.” He emphasised that the group is entering the public market with a solid foundation, an established platform, and a commitment to transparency.

The Nigerian Exchange Group welcomed the listing, calling it another historic day that reflects stakeholder confidence in the market’s long-term growth potential. The listing expands the number of publicly traded non-bank financial services firms on the NGX and gives public investors direct access to AVA Capital’s platform. It also comes as Nigeria’s financial services industry places greater emphasis on governance standards, transparency, and broader public market participation.