Haldane McCall lists 3.12bn shares on NGX

Real estate and hospitality group, Haldane McCall Plc has listed 3.12 billion ordinary shares of 50 kobo each at N3.84 per share on the Nigerian Exchange Limited.

The Chairman of Nigerian Exchange Group, Umaru Kwairanga said the listing by introduction signifies Haldane McCall’s entry into the capital market to enhance transparency and access long-term capital for its business growth, particularly in the real estate and hospitality sectors.

Speaking during the Facts Behind the Listing presentation and closing gong ceremony, the Group Managing Director of Haldane McCall Plc, Edward Akinlade, said, “This milestone aligns with our strategic objectives to deepen our impact in addressing Nigeria’s housing deficit, which requires an estimated N21tn investment. The listing provides a platform for sustainable growth and value creation for our shareholders.”

With a market capitalisation of over N11bn, the Group Chairman of Haldane McCall Plc, George Oguntade noted that the company generated N15bn in September reflecting its growing market relevance, adding that the company’s affordable housing projects and hospitality developments in Lagos, Abuja, and Port Harcourt form the cornerstone of its expansion plans.

He said the listing by introduction signifies Haldane McCall’s entry into the capital market to enhance transparency and access long-term capital for its business growth, particularly in the real estate and hospitality sectors.

“Haldane McCall’s entry into the NGX highlights the depth of our market and its ability to attract forward-looking companies. This will further strengthen their position in the real estate and hospitality sectors,” he noted.

In his remarks, the Chief Executive Officer of Nigerian Exchange Limited Jude Chiemeka, stated, “The listing by introduction allows Haldane McCall to unlock opportunities for future capital raises, providing a pathway to scale its operations and contribute to Nigeria’s economic development.”

The company reiterated its commitment to corporate governance, with robust risk management and governance structures in place to ensure transparency and compliance with market regulations.