NGX to List N11. 98bn Shares of Halden McCall by Introduction

A frontline Real Estate and Hospitality Group, Halden McCall Plc, has said its application for the listing of N11.98 billion ordinary shares by Introduction on the Nigerian Exchange Limited (NGX) has been approved.

By the approval, the Company’s 3. 122 billion Ordinary Shares of 50 kobo at N3.84 per share, totaling N11.98 billion will be listed on Wednesday, November 20, 2024 on the Main Board of NGX.

The historic listing is expected to increase the market capitalisation of NGX by N11.98 billion.

A statement from the company indicates that the listing will be followed by the company’s presentation of Facts Behind the Listing. a unique event where newly quoted companies unfold their current status and future plan to securities dealers, popularly called stockbrokers as part of post- listing information dissemination to the market.

Listing by Introduction implies that Halden McCall has complied with all the listing requirements of NGX. The significant milestone underscores the company’s commitment to transparency, corporate governance, and investor confidence. The company was introduced to NGX by Finmal Finance Services Limited and Chartwell Securities, capital market consultant and stockbroker respectively.

Group Managing Director of Halden McCall, Dr. Edward Akinlade, said: “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.”

Halden McCall, which owns the popular Suru Express Hotels brands and Suru Homes brand in West Africa, is reputed as a major player in the emerging markets in Africa.

The Company is the owner of prime properties in many areas in the neighborhood for development.

In the medium term, the group wants to develop further 45 budget hotels under Suru Express Brand and 100 units of affordable residential estate to support the federal government’s drive for housing for all.