By Aduragbemi Omiyale
The investing public was excited with the listing by introduction of the shares of Aradel Holdings Plc on the main board of the Nigerian Exchange (NGX) Limited on Monday, October 14, 2024.
The integrated energy firm increased the value of the country’s flagship stock exchange by N3.05 trillion with the listing of 4.34 billion shares at N702.69 per unit.
The listing of Aradel Holdings stocks on the NGX after exiting its previous market, the NASD over-the-counter (OTC) Securities Exchange, is to leverage the capital market for future growth, allowing the company to expand its operations and cement its role as a dominant player in both traditional and renewable energy sectors.
The Chairman of Aradel Holdings, Mr Ladi Jadesimi, noted that the organisation was poised to expand its footprint in the renewables space while maintaining its leadership in the oil and gas sector.
“The listing of Aradel Holdings on NGX represents a pivotal moment for us,
“We are committed to driving sustainable growth in Nigeria’s energy industry, particularly in the renewables space, while continuing to excel in petroleum product exploration and refining.
“This listing provides us with the platform to unlock further value for our shareholders,” Mr Jadesimi said.
Also, the chief executive of the company, Mr Adegbite Falade, said, “This 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.
“As we embark on this new chapter in Aradel’s transformation journey, we remain focused on operational excellence, strategic expansion, and delivering returns that reflect our track record and vision for an energized future,” he added.
The Chairman of NGX Group Plc, Mr Umaru Kwairanga, described the listing as a “win for Aradel,” stating it is “also a clear indication to both local and global investors that Nigeria’s capital market remains vibrant, resilient, and full of opportunities. We are honoured to facilitate capital raising for companies like Aradel that play a critical role in Nigeria’s economic progress.”
On his part, the chief executive of NGX Group, Mr Temi Popoola, said, “The benefits of an equity market listing for the upstream sub-sector of the oil and gas industry is especially crucial in light of its dire capital requirements and chronic underinvestment.
“Aradel has come to the market at a critical time as this and we are confident that our infrastructure here at NGX, both market and technology, can unlock the capital flows needed to ensure the sector thrives.”
The chief executive of NGX Limited, Mr Jude Chiemeka, echoed similar sentiments, stressing the role of NGX in supporting corporate growth and innovation.
“Aradel’s listing highlights NGX’s ability to support leading companies in their growth journey. This is not just a milestone for Aradel, but a key moment for the energy sector, demonstrating how the capital market can fuel efficiency and development in critical industries,” he stated.
Aradel Holdings, a major player in Nigeria’s oil and gas industry, operates across the entire oil and gas value chain, with business interests in the exploration, production, and refining of petroleum products.
The listing offers investors the opportunity to engage with one of Nigeria’s most diversified energy companies, positioning it as a key entity on the exchange.
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