With the recent listing of 3.12 billion ordinary shares of 50 kobo each at a price of N3.84 per share and a market capitalization worth N11.99 billion, real estate-focused private limited company Haldane McCall Plc has finally made its mark on the Nigerian Stock Exchange (NGX).
The most recent listing of Haldane McCall is expected to make a significant impact by generating employment opportunities, addressing the country’s housing shortage (which is estimated to be around 20 million units), and paving the way for future growth, all thanks to the Nigerian Exchange’s support for businesses.
In addition, by making this step, Haldane McCall is able to take advantage of the Nigerian capital market’s abundance of chances, which would allow the company to develop through expansion.
The Chairman of Haldane McCall, George Oguntade, has positioned the company’s listing on the NGX as a watershed event in Nigeria’s housing market, expressing his excitement and faith in the move.
Oguntade emphasized that the company’s historic listing on the NGX will give the necessary push to address Nigeria’s housing shortfall, and he underlined Haldane McCall’s commitment to this cause.
In a detailed presentation, Edward Akinlade, group managing director of Haldane McCall, outlined the company’s history in the real estate industry. He described the company’s present landbank projects and building constructions in Ogun, Lagos, and Port Novo, as well as its ambitious expansion plans in Abuja, Porto-Novo, and other cities.
Akinlade claimed that one of the reasons for Haldane McCall’s success was the firm’s distinctive approach, which included buying up land that was owned by banks, developing it, and actively trading assets while avoiding problematic ones.
Within the next five years, Akinlade plans to build 1,000 affordable housing units in Lagos, 100 middle-class homes yearly in Lagos, 50 rental homes in Porto-Novo, Republic of Benin, and expand the company’s land banking holdings, among other goals outlined by Haldane McCall’s future growth plan.
“Our goal is to construct reasonably priced homes for the people of Nigeria,” he continued, expanding on the topic of the company’s future intentions. We intend to broaden our business operations by acquiring other companies. From Majidun in Ikorodu, 100 acres, to Opebi Road in Ikeja, 4,120 sq. m., 30 acres at Isihun in Abeokuta, Ogun State, 3,310 sq. m. at Akin Olugbade on Victoria Island, and 1,200 sq. m. at Alade Street in Ikeja, among other properties,
According to the Haldane McCall GMD, the company’s listing on NGX is a strategic move that will help it achieve its goals, gain more exposure in the capital market, get funding for expansion, and solve Nigeria’s housing crisis.
Haldane McCall’s listing has pleased Jude Chiemeka, CEO of NGX, who has praised the firm for its openness and the important role it plays in the country’s real estate market.
According to Chiemeka, Haldane McCall may now take advantage of NGX’s strengths to further its real estate sector objectives thanks to the company’s listing on the platform.
“You are entering a massive market, and I am confident that you can leverage this market to fulfill all your future ambitions in terms of generating capital to fuel the expansion plan you have,” he said.
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