Halden McCall PLC, a leading player in the real estate and hospitality sector, has received approval for the listing of N11.98 billion ordinary shares by Introduction on the Nigerian Exchange Limited (NGX). This marks a significant milestone for the company and the Nigerian capital market.
Key Details of the Listing
- Share Information: Halden McCall will list 3.122 billion ordinary shares at a price of N3.84 per share, totaling N11.98 billion.
- Listing Date: The shares are set to be listed on November 20, 2024, on the Main Board of NGX.
- Market Impact: This listing is anticipated to increase the market capitalization of NGX by N11.98 billion.
The company will follow the listing with a “Facts Behind the Listing” presentation, an event designed for newly quoted companies to share their status and future plans with securities dealers, also known as stockbrokers. This initiative is part of Halden McCall’s commitment to transparency and effective communication with the market.
Significance of the Listing
Listing by Introduction indicates that Halden McCall has met all the necessary listing requirements set forth by NGX. This achievement underscores the company’s dedication to corporate governance, transparency, and building investor confidence.
Dr. Edward Akinlade, the Group Managing Director, expressed enthusiasm about the listing, stating, “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.”
About Halden McCall PLC
Halden McCall PLC is well-known for its Suru Express Hotels and Suru Homes brands across West Africa. The company has established a strong presence in the emerging markets of Africa, owning prime properties in various locations for future development.
Looking ahead, Halden McCall plans to develop 45 budget hotels under the Suru Express brand and 100 units of affordable residential estates to align with the Federal Government’s initiative for housing for all. This ambitious expansion is part of the company’s strategic vision to enhance its offerings and support national housing goals.
Conclusion
The approval for Halden McCall PLC’s listing on the NGX is a pivotal moment for the company, offering new opportunities for growth and expansion in the real estate and hospitality sectors. This move not only reflects the company’s strong market position but also contributes to the broader economic landscape in Nigeria.