Haldane McCall Sees 22% Increase in Valuation
Haldane McCall Plc (Ticker: HMCALL) saw a price uptick of 21.6% in the equities market despite bearish outing on the Nigerian Exchange platform.
The real estate stock was among the top gainers in the market in the just concluded week. According to information on the Nigerian bourse, the real estate and hospitality market price surged to N6.20 on Friday, from N5.10 at the beginning of the week.
McCall has been one of the volume drivers in the market latterly as investors continue take positions. Since it started trading on the NGX main board in November, the company’s market valuation has surged by more than 61%.
Last week, its market value printed at N19.356 billion due to heavy buying interest. Data from the Exchange revealed that the Ticker: HMCALL had peaked at N6.78 before it retreated due to sell pressures in the equities market.
Haldane McCall Plc listed 3.12 billion ordinary shares of 50k each at N3.84 per share on the Main Board of the Nigerian Exchange in Nov 21.
Haldane McCall’s plans to develop1,000 affordable units in Lagos within five years, 100 middle-class homes across Lagos per annum.
Also, 50 rental homes across Porto-Novo, Republic of Benin and expansion of the company’s land banking holdings.
The group’s managing director also pledged to maintain strong investor relations to reinforce investors’ confidence and provide timely information of the company’s activities in line with post listing requirements of NGX.
Management disclosed that the company generated N15 billion in September. The company has not posted financial statement on the Nigerian Exchange to ascertain the claim and review its numbers. #Haldane McCall Sees 22% Increase in Valuation#
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