Chapel Hill Denham advises Aradel on NGX listing by introduction

…at N702.69 per share, qualifies for NGX 30 Index

Aradel Holdings Plc (Aradel) is set to list 4,344,844,360 ordinary shares of 50 kobo each at N702.69 per share on the Main Board of the Nigerian Exchange Limited (NGX).

Upon being listed on Monday, October 14, 2024, Aradel will immediately qualify to enter the NGX 30 Index and NGX Oil and Gas Index.

Chapel Hill Denham acted as financial adviser to Aradel Holdings Plc on its successful listing by introduction on the Nigerian Exchange Limited.

“Monday, October 14, 2024, 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 our unwavering dedication to providing sustainable energy solutions that drive growth across our communities and industries,” said Adegbite Falade, Managing Director/Chief Executive Officer, Aradel.

“We are pleased to have advised Aradel Holdings Plc on the largest ever listing by introduction on the NGX. This landmark listing reflects the strength of Aradel Holdings Plc and marks a significant milestone for Nigeria’s capital markets and we are grateful to Aradel for entrusting us with this important mandate.

“We thank the SEC, NASD, CSCS and the NGX, and their leadership, for their collaborative partnership, which enabled us deliver results,” said Bolaji Balogun, Chief Executive Officer, Chapel Hill Denham.

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.