AVA Capital Gains 10% on Stock Market Debut, Hits N41.25bn Valuation

AVA Capital Plc made its debut on the Nigerian Exchange Limited on Friday, adding N41.25 billion to the equities market’s total value.

The financial services group was admitted to the NGX through a listing by introduction, with five billion ordinary shares listed at N7.50 per share, giving the company an initial market capitalisation of N37.50 billion.

AVA Capital’s shares subsequently closed at N8.25 apiece, representing a 10 percent increase and lifting its market valuation to N41.25 billion.

The company operates across investment banking, asset management, securities trading and trusteeship.

AVA Capital described the listing as a strategic transition to the public market that reinforces its long-term institutional ambitions. It said the development represented a milestone in the group’s evolution rather than a fundraising exercise.

Unlike an initial public offering, the listing by introduction did not involve the issuance of new shares or the raising of fresh capital.

Commenting on the development, the Managing Director of AVA Capital Plc, Olukayode Fadahunsi, said the company’s admission to the NGX was a natural progression in its development as a long-term institution.

“Our admission to the Nigerian Exchange is a natural progression in AVA Capital’s evolution as a long-term institution,” Fadahunsi said ahead of the listing.

“We are stepping into the public market with a solid foundation, an established platform and a commitment to transparency. This is about cementing our place in Nigeria’s financial landscape and building a foundation for sustained growth,” he said.“The public markets expect us to be open, disciplined and responsible. We see these as strengths that help our institutions grow stronger over time.”

AVA Capital commenced operations between 2018 and 2019 with Elixir Capital Partners Limited and Helix Securities Limited. The group later added Nachtwey Limited to provide customised fund and asset-management solutions to clients.

The companies were subsequently rebranded between 2020 and 2021. Elixir Capital Partners became AVA Capital Partners Limited, Helix Securities was renamed AVA Securities Limited, while Nachtwey Limited became AVA Global Asset Managers Limited.

The group said its asset-management business currently has assets under management exceeding ₦7 billion.