Aradel Holdings, the company formerly known as Niger Delta E&P, is listing at the Nigerian Stock Exchange on Monday, October 14, 2024. It will be the third Nigerian homegrown oil and gas producer, to be a publicly listed company, after Oando and Seplat. The move follows the approval given by the company’s shareholders at its Annual General Meeting held on June 5, 2024, but the idea that the 32 year old firm should list on one of Africa’s largest bourses had been
around for decades. “When you look at what it would mean for the fortune of both the company and its shareholders, first, for the company, its ability to raise capital for the endless opportunities that we see, it helps you to appreciate the gap-to-potential that is on the table”, says Gbite Falade, Aradel’s Chief Executive Officer. “This (company) remains the best kept secret in the industry”. Even without a listing on a large public platform such as NSE, Aradel has been relatively open. The company already has over 2,000 shareholders and its shares have been available on NASD Plc, a Securities Exchange registered by the Nigerian Securities and Exchange Commission (SEC) to operate a formal Over The Counter (OTC) market in Nigeria. The acronym NASD was derived from the company’s origin – the “National Association of Securities Dealers”.
Aradel holds a regular, annual, well attended General Meetings, and publishes an annual report, going back to 2013, on its website. It has a non-executive chairman and the board is filled with representatives from as far afield as Petrolin, the Geneva headquartered international petroleum group. None of the company’s founders is a member of the current board.
Falade expatiates on the value that a listing will unlock: “The company has very faithful and loyal
shareholders. A lot of them have been with Aradel from the very first day that this company started. They
are well-informed industry people and they’ve remained faithful. They’ve not divested. Now, though
practically every one of them in that category are no longer young. I think what will be worth their while, for NGXEachange Aradel Holdings Plc Lists 4.34bn Shares on NGX Main Board COMPANY
aradel LSTING TYPE
LISTING BY
INTRODUCTION
ISIN NUMBER
NGARADEL0004
LISTING DATE
MONDAY
14 OCTOBER 2024
SYMBOL CODE
ARADEL
LISTING PRICE
N702.69
MARKET CAP
N3.05Tn
NATURE OF BUSINESS
EXPLORATION, PRODUCTION, AND
REFINING OF PETROLEUN PRODUCT.
AND RENEWABLES
