Aradel Holdings Plc, a leading integrated energy company, has successfully listed 4.34 billion shares on the Nigerian Exchange Limited (NGX) Main Board. The listing, which took place on Monday, October 14, allows the company to tap into the capital market for future growth and expand its operations in both the traditional and renewable energy sectors.
The shares were listed at N702.69 per share through a “Listing by Introduction,” boosting the NGX’s market capitalization by N3.05 trillion. This significant milestone marks Aradel’s entry into the stock market as a key player in Nigeria’s oil and gas industry, further cementing its position in the energy sector.
Aradel Holdings operates across the full oil and gas value chain, with activities ranging from exploration to refining of petroleum products. The listing provides investors with the opportunity to engage with one of Nigeria’s most diversified energy companies, positioning it as a major player on the Exchange.
As part of the listing, a “Facts Behind the Listing” event was held, where Aradel’s senior executives outlined the company’s growth strategy and financial performance to stakeholders. During the event, Umaru Kwairanga, Chairman of NGX Group, highlighted the significance of the listing, noting that it showcases the vibrancy and resilience of Nigeria’s capital market.
Temi Popoola, Group Managing Director and CEO of NGX Group, emphasized the critical timing of the listing, particularly for the oil and gas industry’s upstream sub-sector, which faces capital constraints and underinvestment. He expressed confidence in NGX’s ability to unlock capital flows to ensure the sector’s success.
Aradel’s leadership also underscored the company’s commitment to innovation and sustainability. Ladi Jadesimi, Chairman of Aradel, and Adegbite Falade, CEO, both expressed optimism about the company’s future, emphasizing its focus on expanding into renewables while maintaining a strong presence in oil and gas. They highlighted the listing as a transformative moment in Aradel’s journey, aimed at driving sustainable growth and creating long-term value for shareholders.
