The listing of Aradel Holdings Plc on the Nigerian Exchange, NGX, has added N3.1 trillion to the total market capitalisation of the Exchange.
Stanbic IBTC Capital, which is the financial adviser to the listing of Aradel on the Main Board of the
Exchange, said the strategic move by the company shows its commitment to ensuring that the average investor can access quality investments in the Nigerian oil & gas sector, adding that the listing will significantly boost the market capitalization of the NGX and is expected to enhance the
Company’s visibility, attract a wider pool of investors and increase the Company’s prospects.
On 14 October 2024, the 4,344,844,360 ordinary shares of 50 kobo in Aradel Holdings Plc was listed and it marked a significant milestone, as the largest listing ever to be undertaken in the Nigerian capital market.
Oladele Sotubo, the Chief Executive of Stanbic IBTC Capital, shared his excitement regarding the recent listing, stating, “The successful listing signifies a major achievement, not just for Aradel
Holdings, but also highlights a crucial moment for Stanbic IBTC Capital. This accomplishment reaffirms our leading position as a preferred adviser for corporates aiming to list on the NGX.