The listing by introduction of Aradel Holdings Plc on the Nigerian Exchange Limited (NGX) yesterday increased the market capitalisation to N3.4 trillion as its stock price closed for trading at N772.90 per share.
Aradel Holdings was listed at N702.69 per share.
Speaking at the company's "Facts Behind the Listing", the Chairman, Aradel Holdings, Mr. Ladi Jadesimi, highlighted the company's focus on innovation and sustainability, noting that Aradel was poised to expand its footprint in the renewables space while maintaining its leadership in the oil and gas sector.
"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.
"This listing provides us with the platform to unlock further value for our shareholders," he added.
Commenting on the listing, the Managing Director/Chief Executive Officer of Aradel, Mr. Adegbite Falade, said: "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 our unwavering dedication to providing sustainable energy solutions that drive growth across our communities and industries.
"As we embark on this new chapter in Aradel's transformation journey, we remain focused on operational excellence, strategic expansion, and delivering returns that reflect our track record and vision for an energised future."
While delivering his speech, the Group Chairman, NGX Group, Alhaji Umaru Kwairanga, stated that the company has been a key player in Nigeria's energy sector, particularly in the exploration, production, and refining of petroleum products.
He stated: "The successful listing of Aradel Holdings today underscores the strength and viability of NGX as the preferred platform for companies looking to unlock value and achieve their growth potential.
"Aradel's commitment to innovation, strategic investment, and sound governance sets a benchmark for the oil and gas industry, showcasing the immense opportunities that our capital market offers to businesses.
"This achievement is not only a win for Aradel, but also a strong signal to both local and global investors that Nigeria's capital market remains dynamic, resilient, and full of opportunities.
"We are proud to serve as a trusted partner in facilitating capital raising, supporting companies like Aradel that contribute significantly to Nigeria's economic growth.
"Moreover, Aradel's listing aligns with Nigeria's broader national objective of building a trillion-dollar economy.
"By enhancing its visibility, governance, and access to capital, Aradel is well-positioned to scale its operations and create value for shareholders while contributing to Nigeria's economic diversification.
"The oil and gas sector remains a critical driver of our economy, and companies like Aradel are expanding the sector's footprint. Their success demonstrates that local capital and content can propel the industry to new heights, contributing to Nigeria's broader economic transformation.
"As Aradel Holdings joins the NGX Main Board, we celebrate a story of resilience, innovation, and ambition. We are confident that Aradel's growth will further strengthen Nigeria's capital market and reinforce the critical role of NGX in supporting the aspirations of companies across all sectors."
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In his remarks, the Group Managing Director and CEO of NGX Group, Mr. Temi Popoola, emphasised the broader significance of the listing.
"The benefits of an equity market listing for the upstream sub-sector of the oil and gas industry is especially crucial in light of its dire capital requirements and chronic underinvestment.
"Aradel has come to the market at a critical time as this and we are confident that our infrastructure here at NGX, both market and technology, can unlock the capital flows needed to ensure the sector thrives."
CEO of NGX, Mr. Jude Chiemeka echoed similar sentiments, stressing the role of NGX in supporting corporate growth and innovation.
"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."
