Top Lender Leads Aradel Holdings’ Listing On NGX

Stanbic IBTC Capital, a leading investment bank in Nigeria and member of Standard Bank Group, has announced its role as Financial Adviser on the listing of Aradel Holdings PLC on the Main Board of the Nigerian Exchange Limited (NGX).

On October 14, 2024, the 4,344,844,360 ordinary shares of 50 kobo in Aradel Holdings Plc were listed by introduction at N702.69 per share. This listing marked a significant milestone, as the largest listing ever to be undertaken in the Nigerian capital markets.

According to a press release, the listing will significantly boost the market capitalisation of the NGX, enhance the company’s visibility and attract a wider pool of investors.

“As Financial Adviser to Aradel Holdings, Stanbic IBTC Capital Limited guided the company through the complexities of the listing process, working closely with the Aradel Holdings team and bringing to bear, its strength and depth of expertise particularly in the Equity Capital Markets and Oil & Gas Sector to achieve this landmark milestone,” the statement added. Commenting on the listing, Oladele Sotubo, the Chief Executive of Stanbic IBTC Capital, said:

“We are extremely proud to have partnered with Aradel Holdings through this transformative journey. 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. The dedication and expertise of our team have been fundamental in achieving this milestone.

“We are excited about the future, as we continue to dedicate our efforts towards fostering growth and development within the Nigerian capital market, supporting more companies in their journey towards expansion through the capital markets.”

The listing of Aradel Holdings on NGX made a remarkable impact by contributing approximately N3.1 trillion to the market capitalisation of NGX.

This significant addition is expected to play a crucial role in enhancing the overall growth and vitality of Nigeria’s financial market landscape.