Haldane McCall Lists N13.17bn Shares On NGX

A frontline Real Estate and Hospitality Company, Haldane McCall Plc, has listed 3.122 billion shares valued at N13.17 billion on the Nigerian Exchange Limited.

The Company shares were listed by Introduction on the Main Board of NGX yesterday at N3.84 per share.

Speaking at the closing Gong Ceremony and presentation of Facts behind the Listings of the Company on NGX, the Group chairman, Nigerian Exchange Group, Alhaji Umaru Kwairanga, commended the Company’s Board on its decision to seek listing, describing it as a demonstration of transparency in information disclosure.

Kwairanga noted that listing was a win-win affair as it deepens the market and also provides a credible platform for capital raise and capital formation for Haldane McCall.

The Group managing director of Haldane McCall, Dr. Edward Akinlade explained that the decision to seek listing was not only for visibility, but to open new opportunities to raise long term funds for expansion.

“What sets our company apart from our peers is that we buy land from banks, develop it and sell. We actively trade and do not get involved in problem assets. There is a bright future for our Company. We want to build affordable houses for Nigerians . We want to expand through acquisition of companies,” he said.

Akinlade unfolded part of Haldane McCall’s future plan, including development of 1,000 affordable units in Lagos over five years, 100 middle-class homes across Lagos per annum, 50 rental homes across Porto-Novo, Republic of Benin and expansion of the Company’s land banking holdings.

He captured the Company’s strategic vision, growth trajectory and future plan, assuring capital market stakeholders of sustained growth in the Company’s net profit, regular dividend payment of 30 per cent of net earnings, maintenance of strong investor relations to reinforce investor confidence and provision of timely information of the company’s activities in line with the Post Listing Requirements of NGX.

The CEO of NGX, Jude Chiemeka, congratulated the Company on its admission to NGX, explaining that NGX was a multi-assets Exchange and a member of World Federation of Exchanges (WFE) and has a Memorandum of Understanding (MoU) with many notable exchanges globally.

Chiemeka assured the Company that NGX placed premium on investor-protection and urged the Board and Management to comply with the Post Listing Requirements.