NGX to List N11.98bn Halden McCall Shares by Introduction
The Nigerian Exchange Ltd. (NGX) has approved the listing of N11.98 billion ordinary shares of Halden McCall Plc by introduction. Halden McCall is a frontline real estate and hospitality group. Listing by Introduction implies that the firm has complied with all the listing requirements of the Exchange.
Dr Edward Akinlade, Managing Director, Halden McCall, confirmed this in a statement on Monday in Lagos. Akinlade said that the company’s 3.122 billion ordinary shares, valued at N3.84 per share, would be listed on the NGX Main Board on Nov. 20.
According to him, the total value of the shares is N11.98 billion, and the listing is expected to boost the market capitalisation of the NGX by the amount. He stated that the listing would be followed by the company’s presentation of Facts Behind the listing on the Exchange to unfold its current status and future plan to securities dealers.
“The upcoming listing of our company’s shares on NGX is a milestone. We are thrilled to join the NGX community of prestigious companies.
“The listing shall enhance our ability to provide our shareholders with liquidity and accessibility. It will also enable us to tap into the capital market, drive growth and expansion,” he said. He explained that the significant milestone underscored the company’s commitment to transparency, corporate governance and investor confidence.
The managing director said that the firm was introduced to NGX by Finmal Finance Services Ltd., and Chartwell Securities, capital market consultant and stockbrokers, respectively.
Incorporated on March 27, 2012, as a private limited company with focus on real estate business, Halden McCall owns the popular Suru Express Hotels brands and Suru Homes brand in West Africa.
Reputable as a major player in the emerging markets in Africa, the company has successfully developed and marketed luxury residential apartments in the upper neighbourhood of Ikeja GRA, an upper-class segment of the Lagos metropolitan area. #NGX to List N11.98bn Halden McCall Shares by Introduction Liquidity: Banks Drive Yield Surge with T-Bills Selloffs
