Chapel Hill Denham is pleased to have acted as Financial Adviser to Aradel Holdings Plc (“Aradel”) on its successful listing by introduction on the Nigerian Exchange (“NGX”). Aradel will list 4,344,844,360 ordinary shares of ₦0.50 each at N702.69 per share on the Main Board of the NGX on October 14, 2024. Upon being listed, Aradel will immediately qualify to enter the NGX 30 Index and NGX Oil and Gas Index.
Speaking on the listing, Adegbite Falade, Managing Director/Chief Executive Officer, Aradel, 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.”
Bolaji Balogun, Chief Executive Officer, Chapel Hill Denham, 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.”