Aradel listing boosts NGX market cap by N3tn - Tellbrief.com

Aradel listing boosts NGX market cap by N3tn

Aradel Holdings Plc listed 4.34 billion shares on the Main Board of the Nigerian Exchange on Monday, boosting the market capitalisation by about N3.

05tn. The energy firm’s shares were listed at N702.

69 per share through a ‘Listing by Introduction’, bumping the oil and gas sector’s participation in the equity market upwards. Aradel Holdings, a major player in Nigeria’s oil and gas industry, operates across the entire oil and gas value chain, with business interests in the exploration, production, and refining of petroleum products.

“The listing of Aradel Holdings on NGX represents a pivotal moment for us,” Jadesimi 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.

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