Haldane McCall gets approval to list 3.12bn shares on NGX

… at N3.84 per share

Haldane McCall Plc is set to list its shares by introduction on the Main Board of the Nigerian Exchange Limited (NGX).

Haldane McCall Plc Nigeria is a leading real estate and hospitality group operating in the emerging market of Africa. They are owners of the popular Suru Express Hotels brands and Suru Homes brand in West Africa.

Haldane McCall will list by introduction its 3.122billion ordinary shares of 50 kobo each at N3.84 per share.

The listing of the company at the above price will increase NGX market capitalisation by N11.98billion.

Finmal Finance Services Limited is the stockbrokers to the listing which was approved on October 10.

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The company believes the listing by introduction will position it as a major player in the real estate and hotel business in West Africa.

Haldane McCall Plc was incorporated in 27th of March, 2012 as a private limited company with focus on real estate business with very promising outlook.

It has successfully developed and marketed luxury residential apartments in the upper neighbourhood of Ikeja GRA, an upper-class segment of the Lagos metropolitan. It still holds prime properties in this neighbourhood for speculation and development.

Following CBN intervention, the company has pruned down its investment drive and is committed to focus on real estate and hospitality. In the medium term, the group wants to develop further 45 budget hotels under Suru Express Brand and the Company wants to build 100 units of low-cost residential estate to support the Federal Government’s Drive for affordable housing for all.

It has acquired large expanse of land in Lagos state, Nigeria, a developing area (the commercial nerve center, of Nigeria) to build low-cost housing.