Halden McCall to Boost NGX Market with 11.98bn Share Listing
The Nigerian Exchange Ltd. (NGX) has granted approval for the listing of Halden McCall Plc’s shares, valued at N11.98 billion, through the method of listing by introduction. Scheduled for November 20, this development will see 3.122 billion ordinary shares of the real estate and hospitality company introduced to the NGX Main Board, priced at N3.84 per share.
In a statement on Monday, Dr Edward Akinlade, Managing Director of Halden McCall, expressed enthusiasm about the upcoming listing, calling it a significant step for the company. “The upcoming listing of our company’s shares on NGX is a milestone. We are thrilled to join the NGX community of prestigious companies,” Akinlade said.
He highlighted that the listing would provide liquidity for shareholders, strengthen investor access, and open doors for the company to leverage capital markets for further growth and expansion.
“This achievement underscores our commitment to transparency, corporate governance, and investor confidence,” he added.
Following the listing, Halden McCall plans to host a “Facts Behind the Listing” event at the Exchange to outline its current operations and future growth strategy to market stakeholders.
The listing process was facilitated by Finmal Finance Services Ltd. as advisers and Chartwell Securities as stockbrokers.
Founded on March 27, 2012, Halden McCall has built a reputation in West Africa, particularly through its Suru Express Hotels and Suru Homes brands. The company has also developed high-end residential apartments in Ikeja GRA, one of Lagos’ prime neighbourhoods.
The listing by introduction indicates that the company has met all the regulatory and financial requirements for trading on the NGX, positioning itself as a key player in both the real estate and capital markets sectors. With the introduction of its shares, NGX’s market capitalisation is expected to grow by N11.98 billion. Jaiz Bank Shares Surge 9.28% Ahead of Board Meeting
