Chapel Hill Denham Advises Aradel on Listing by Introduction on NGX

Oluchi Chibuzor

Chapel Hill Denham has announced that it acted as financial adviser to Aradel Holdings Plc on its successful listing by introduction on the Nigerian Exchange (NGX). Aradel will today list 4,344,844,360 ordinary shares of 50 kobo each at N702.69 per share on the Main Board of the NGX.

Upon being listed, Aradel will immediately qualify to enter the NGX 30 Index and NGX Oil and Gas Index.

Speaking on the listing, Managing Director/Chief Executive Officer, Aradel, Adegbite Falade, commented: “Monday, October 14, 2024, will mark a historic milestone for Aradel as we list on the NGX, underscoring our commitment to creating long-term value for our shareholders and deepening our contributions to Nigeria’s economic landscape. This listing is a testament to our resilience, adaptability, and our unwavering dedication to providing sustainable energy solutions that drive growth across our communities and industries.”

On his part, the Chief Executive Officer, Chapel Hill Denham, Bolaji Balogun, said: “We are pleased to have advised Aradel Holdings Plc on the largest ever listing by introduction on the NGX. This landmark listing reflects the strength of Aradel Holdings Plc and marks a significant milestone for Nigeria’s capital markets and we are grateful to Aradel for entrusting us with this important mandate. We thank the SEC, NASD, CSCS and the NGX, and their leadership, for their collaborative partnership, which enabled us deliver results.”

Chapel Hill Denham has a simple and powerful model focused on investment banking and investment management. The firm is Nigeria and Africa’s leading independent investment bank and Nigeria’s leading alternative asset manager, as well as impact investment firm. Chapel Hill Denham’s business is focused on areas accretive to Nigeria and Africa’s economic development, namely Renewable Infrastructure, Real Estate, Digital and Financial Inclusion, Gender and SMEs, Healthcare, Education, Creative and Media.