Real Estate Firm to List by Introduction on NGX

A company in the real estate and hospitality industry in Nigeria, Haldane McCall Plc, is warming up to join the league of quoted companies on the main board of Nigerian Exchange Limited (NGX) through Offer by Introduction in the first quarter next year.

As a prelude to the historic listing, Haldane McCall has commenced preliminary documentations at Securities and Exchange Commission (SEC) and NGX. through its appointed parties to the listing.

In a special presentation at the Company’s Investors Forum in Lagos recently, the Group managing director, Mr Edward Akinlade, explained that Haldane McCall, had always operated on the strength of strategic growth, stellar returns, diversified portfolio and proven expertise.

According to him, the company has a strong board and management team that comprises topnotch professionals in diverse professional backgrounds. We have gone far in our plan to list ensure that our Company is listed on NGX in the first quarter of 2024.

“We shall be listed by Introduction since we have complied with all the listing requirements of NGX. The listing will enhance the Company’s perpetuity and sustainability of returns and avail us more financing options in the future. We regard our shareholders as partners. We have generous dividend policy. Our company has capacity to collaborate with the government to bridge housing deficits in Nigeria.

“The company intends to expand by procuring at least one additional hotel annually over the course of the next decade at choice locations such as Lagos, Abuja, Port Harcourt, Ibadan etc. In the medium term, the Haldane McCall Group seeks to further develop 10 budget hotels. The Company intends to intensify its drive for sourcing and identifying viable investment opportunities in the African emerging markets. The strategy among others is to buy existing hotels, invest, remodel and finally rebrand for optimality,” he stressed.

Chairman of the company, Mr. George Oguntade, explained that, the time was ripe for listing of Haldane McCall on NGX to enable indigenous and foreign investors benefit from its superior return on investment, urging investors to take advantage of the Company’s unique characteristics.

One of the company’s advisers and chief executive officer, Professional Stockbrokers, Mr. Dapo Adekoje, noted that, with its trajectory of good performance and policy of creating value for shareholders, the Company’s shares would be on high demand after the listing.

The Investors Forum attracted many high net-worth individuals and institutional investors and the parties to the proposed listing made presentations.