Chapel Hill advises Aradel on Nigerian exchange listing

Investment firm, Chapel Hill Denham, says it acts as an official adviser to energy company, Aradel Holdings Plc, as Aradel is set to debut on the Nigerian Exchange with a listing of 4.34 billion ordinary shares, valued at N0.50 each, on October 14, 2024.

In a statement, Aradel Holdings disclosed its shares will be listed at N702.69 per share, making it the largest listing by introduction in the history of the NGX.

Chapel Hill Denham said it will position Aradel among the top players in Nigeria’s capital market, qualifying the company for entry into the NGX 30 Index and the NGX Oil and Gas Index upon listing.

The Managing Director and Chief Executive Officer of Aradel Holdings Plc, Adegbite Falade, described the event as a historic milestone.

“Monday, October 14, 2024, will mark a defining moment for Aradel as we list on the NGX. This underscores our dedication to creating long-term value for our shareholders and our commitment to Nigeria’s economic growth through sustainable energy solutions,” Falade stated.

The CEO of Chapel Hill Denham, Bolaji Balogun, expressed his pride in advising Aradel on this groundbreaking transaction.

“This landmark listing highlights the strength of Aradel Holdings and marks a major milestone for Nigeria’s capital markets.

“We thank the Securities and Exchange Commission (SEC), NGX, NASD, CSCS, and their leadership for their partnership in making this possible,” Balogun said.

According to the statement, Aradel’s listing is expected to further cement its position as a key player in the energy sector, contributing to Nigeria’s economic landscape and boosting investor confidence in the Nigerian capital market.