A leading investment firm has announced its role as the official adviser to an energy company, which is preparing to debut on the Nigerian Exchange by listing 4.34 billion ordinary shares priced at N0.50 each, on October 14, 2024.
The energy company, Aradel Holdings Plc, revealed that its shares will be listed at N702.69 per share, marking it as the largest listing by introduction ever on the NGX.
The investment firm mentioned that this move will position Aradel as a significant player in Nigeria’s capital market, making it eligible for inclusion in the NGX 30 Index and the NGX Oil and Gas Index upon listing.
The Managing Director and Chief Executive Officer of Aradel Holdings Plc expressed excitement about the upcoming listing, describing it as a historic milestone for the company.
The CEO of the investment firm also shared his pride in advising Aradel on this significant transaction, emphasizing the strength of Aradel Holdings and its positive impact on Nigeria’s capital markets.
The statement highlighted that Aradel’s listing is expected to solidify its position in the energy sector, contributing to Nigeria’s economy and enhancing investor confidence in the local capital market.