Haldane McCall Plc, a leading real estate and hospitality group in West Africa, is set to list its shares on the Main Board of the Nigerian Exchange Limited (NGX).
The company, renowned for its Suru Express Hotels and Suru Homes brands, will introduce its 3.122 billion ordinary shares at 50 kobo each, priced at N3.84 per share.
This listing will elevate NGX’s market capitalisation by N11.98 billion.
The company’s shares will be listed by introduction, a method that allows the company to join the market without issuing new shares or raising capital immediately. The stockbrokers for the listing are Finmal Finance Services Limited, with approval granted on October 10.
Established on March 27, 2012, Haldane McCall Plc has a strong presence in Nigeria’s real estate market, with a portfolio that includes luxury residential apartments in Ikeja GRA, Lagos. The group continues to hold prime properties in the upscale area for future development.
As part of its strategic focus, the company has streamlined its operations, choosing to concentrate on real estate and hospitality, following interventions by the Central Bank of Nigeria (CBN). In the medium term, Haldane McCall Plc aims to develop 45 budget hotels under its Suru Express brand and build 100 units of low-cost housing to support the Federal Government’s affordable housing initiative.
To drive this initiative, the company has acquired a large expanse of land in Lagos for the development of affordable residential estates, positioning itself as a major player in West Africa’s real estate and hospitality sectors.
