SAHCOL set to enlist on stock exchange

Nine years after its privatization, the management of Skyway Aviation Handling Company Limited (SAHCOL) has commenced plans to enlist the ground handling firm on the Nigerian Stock Exchange (NSE).

Declaring this was the Acting Managing Director of the company, Mr. Basil Agboarumi during a chat with aviation journalists in Lagos on activities within the company.

Speaking on why the company was yet to be enlisted on the stock exchange, the acting managing director declared that the management was not reluctant to go to the NSE, but there was time for every step to be taken by the organisation.

His words: “Already, steps have been taken by the management to enlist us on the NSE. We are already having some discussions with the Securities and Exchange Commission (SEC) on the process of enlisting on the floor.

“Even when SAHCOL was handed over to Sifax Group, we were still under the watchful eyes of the Bureau for Public Enterprises (BPE). If we had taken the wrong step, BPE would have kicked us.

“Also, as a business entity, the country’s economy had been very bad at a point. For example, Nigeria just came out of recession and as at the time of recession, I don’t think it makes any business sense for us to throw a company like this into the market. But now that we are out of recession, we believe this is the best time to go to the exchange and we have gone far on this.

On whether the company will participate in the Federal Government’s plan to concession some of the major airports in the country, the SAHCOL chief declared: “When we get to the bridge, we will know how to cross it. The fact is that if government says it wants to take a policy decision, it is good for us to see whatever the government is putting on our table. We are a business organization and will always be interested in doing businesses, but if the offer is not what we are interested in; we will go our own way.”