Haldane McCall Gets Approval to List 3.12 Billion Shares on NGX at N3.84 Per Share
Haldane McCall Plc, a major player in the real estate and hospitality sectors in West Africa, has received approval to list 3.12 billion ordinary shares by introduction on the Main Board of the Nigerian Exchange Limited (NGX) at N3.84 per share. This move will add approximately N11.98 billion to the NGX market capitalization.
Haldane McCall, known for its Suru Express Hotels and Suru Homes brands, expects the listing to solidify its position as a key player in the West African real estate and hotel industries. Finmal Finance Services Limited is serving as the stockbroker for the listing, which was approved on October 10, 2024.
Company Background and Future Plans
Incorporated in March 2012, Haldane McCall Plc initially focused on luxury real estate development, particularly in the upscale Ikeja GRA area of Lagos. The company continues to hold prime properties in Lagos for future development and speculation.
Following intervention from the Central Bank of Nigeria (CBN), Haldane McCall has scaled back its investment activities to focus on real estate and hospitality. In the medium term, the company aims to develop 45 budget hotels under its Suru Express brand and construct 100 low-cost residential units to support the federal government’s affordable housing initiative.
The company has also acquired land in Lagos to build additional low-cost housing, which is expected to contribute to addressing Nigeria’s housing deficit.
Strategic Outlook
This listing by introduction allows Haldane McCall to raise its profile in the capital markets, attracting more investors and positioning itself for further expansion in the real estate and hospitality sectors across Africa. With plans for budget hotels and affordable housing developments, the company is poised to continue its growth while supporting Nigeria’s broader economic and housing goals.
Haldane McCall Plc, a major player in the real estate and hospitality sectors in West Africa, has received approval to list 3.12 billion ordinary shares by introduction on the Main Board of the Nigerian Exchange Limited (NGX) at N3.84 per share. This move will add approximately N11.98 billion to the NGX market capitalization.
Haldane McCall, known for its Suru Express Hotels and Suru Homes brands, expects the listing to solidify its position as a key player in the West African real estate and hotel industries. Finmal Finance Services Limited is serving as the stockbroker for the listing, which was approved on October 10, 2024.
Company Background and Future Plans
Incorporated in March 2012, Haldane McCall Plc initially focused on luxury real estate development, particularly in the upscale Ikeja GRA area of Lagos. The company continues to hold prime properties in Lagos for future development and speculation.
Following intervention from the Central Bank of Nigeria (CBN), Haldane McCall has scaled back its investment activities to focus on real estate and hospitality. In the medium term, the company aims to develop 45 budget hotels under its Suru Express brand and construct 100 low-cost residential units to support the federal government’s affordable housing initiative.
The company has also acquired land in Lagos to build additional low-cost housing, which is expected to contribute to addressing Nigeria’s housing deficit.
Strategic Outlook
This listing by introduction allows Haldane McCall to raise its profile in the capital markets, attracting more investors and positioning itself for further expansion in the real estate and hospitality sectors across Africa. With plans for budget hotels and affordable housing developments, the company is poised to continue its growth while supporting Nigeria’s broader economic and housing goals.
