The public offer of 406,074,000 ordinary shares of Skyway Aviation Handling Company (SAHCO) Plc has been extended till January 9, 2019.
The offer, which opened on November 12, 2018 and erstwhile scheduled to close on December 19, was extended due to feedback of “success story and demand from members of the public”.
Executive Director, Cargo and Sales, Olaniyi Adigun, said the extension was based on request to give Nigerians more time to buy into and align with the success story that SAHCO symbolises.
Adigun, who spoke at a roadshow recently, said Nigerians around the world were showing interest in the offer, and the Yuletide season is an opportunity for all interested parties to key in.
He noted that SAHCO is the leading ground service provider in the Nigerian aviation industry; providing excellent passenger handling, ramp handling, cargo handling, aviation security, premium lounge and baggage reconciliation services in all commercial airports across Nigeria.
SAHCO was formerly known as Skypower Aviation Handling Company Limited before it was privatised in December, 2009. It is fully owned by the Sifax group and was incorporated as an Aviation Ground Handling Service Provider under the Nigerian Company & Allied Matters Act of 1990.
Since then, SAHCO has grown to become a multi award-winning ground handling service provider that provides well-structured, customer friendly, and efficient passenger, ramp and cargo handling services with the highest international standards to the delight of our customers and benefit of all stakeholders.
“As a pro-active and futuristic company, SAHCO has tapped into the vast technology available to ground aviation handlers all over the world. This is evident in the upgrade of our facilities and equipment that matches with the very best anywhere in the world. Our team is made up of experts and professionals who are dedicated to ensuring the satisfaction of our customers and clients.
“Over the years, SAHCO has recorded tremendous growth, remarkable improvements and have added value to aviation development in Nigeria. Our market share grew from 21 percent in 2009 to over 40 percent, and our revenue has grown by over 100 percent post privatisation. By the end of December 2017, SAHCO had maintained a stable operating performance with a compounded annual revenue growth rate of 4.43 percent. The Company also recorded improved profitability with a five year average operating and profit margin of 12.1per cent and 11.6 percent respectively by the end December 2017.”
Company Secretary, Lara Bello Odeinde, urged interested members of the public to go online for copies of their prospectus and application form.