Aradel Holdings Plc made a significant impact on the Nigerian Exchange by listing 4.34 billion shares on its Main Board on Monday, increasing market capitalization by approximately N3.05 trillion. The shares debuted at N702.69 each through a “Listing by Introduction,” enhancing the oil and gas sector’s presence in the equity market.
As a prominent player in Nigeria’s oil and gas industry, Aradel operates throughout the entire value chain, engaging in the exploration, production, and refining of petroleum products. This listing provides investors with the opportunity to connect with one of Nigeria’s most diversified energy companies and positions Aradel as a key player on the exchange.
During the “Facts Behind the Listing” event, Aradel’s senior executives shared insights into the company’s growth strategy and financial performance with investors and stakeholders.
Dr. Umaru Kwairanga, Chairman of the Nigerian Exchange Group, emphasized the listing’s significance: “This achievement is not just a win for Aradel but also a clear indication to both local and global investors that Nigeria’s capital market remains vibrant, resilient, and full of opportunities. We are honored to facilitate capital raising for companies like Aradel that play a critical role in Nigeria’s economic progress.”
Jude Chiemeka, CEO of NGX, commented on the exchange’s role in supporting corporate growth, stating, “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.”
Aradel Holdings’ Chairman, Mr. Ladi Jadesimi, emphasized the company’s commitment to innovation and sustainability. “The listing of Aradel Holdings on NGX represents a pivotal moment for us,” he said. “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. Adegbite Falade, Managing Director and CEO of Aradel, remarked, “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 unwavering dedication to providing sustainable energy solutions that drive growth across our communities and industries.”
Following the listing, the All-Share Index rose by 0.62 percent, closing at 98,215.13, with the market capitalization increasing by N3.42 trillion to end at N59.51 trillion.
