Haldane McCall lists 3.12bn shares on NGX to ease Nigeria’s 20-million housing shortfall
Onome Amuge
Haldane McCall Plc, a private limited company focused on real estate, has officially made its mark on the Nigerian Stock Exchange (NGX), as it recently listed a total of 3.12 billion ordinary shares of 50 kobo each at a price of N3.84 per share, and a market capitalisation worth N11.99 billion.
The Nigerian Exchange’s support for businesses continues to fuel growth across various sectors, and the latest listing of Haldane McCall is poised to contribute its fair share by creating jobs, tackling the country’s estimated 20-million housing deficit, and setting the stage for long-term expansion.
Moreover, the move enables Haldane McCall to tap into the wealth of opportunities that the Nigerian capital market offers, paving the way for expansion and sustainable growth for the company.
In his welcome address at the company’s Facts Behind the Listing presentation, Umaru Kwairanga, group chairman of the Nigerian Exchange Group Plc, spoke on the significance of Haldane McCall’s presence on the NGX. He described it as a shining example of the company’s dedication to transparency, innovation, and its crucial role in alleviating Nigeria’s housing deficit.
Haldane McCall’s Chairman, George Oguntade, expressed his enthusiasm and confidence in the company’s listing on the NGX, positioning it as a transformative moment for Nigeria’s housing sector.
Oguntade reaffirmed Haldane McCall’s dedication to resolving Nigeria’s housing deficit, stressing that the company’s historic listing on the NGX would provide the impetus needed to achieve this goal.
Edward Akinlade, group managing director of Haldane McCall, delivered an in-depth presentation of the company’s journey in the real estate industry, outlining its current landbank projects and building constructions in Lagos, Ogun, and Port Novo, as well as its ambitious expansion plans across Lagos, Abuja, Porto-Novo, and other locations.
According to Akinlade, Haldane McCall’s unique strategy, characterised by its focus on purchasing bank-owned land, developing it, and actively trading assets while avoiding problem assets, is one of the driving force behind its success.
Akinlade also outlined a roadmap for Haldane McCall’s future growth, which includes developing 1,000 affordable housing units in Lagos over the next five years, constructing 100 middle-class homes annually across Lagos, building 50 rental homes across Porto-Novo in the Republic of Benin, and expanding the company’s land banking holdings.
Speaking further on the company’s future plans, he stated, “We want to build affordable houses for Nigerians . We want to expand through the acquisition of companies. We have 100 acres at Majidun, Ikorodu, 4,120 sqm at Opebi Road, Ikeja, 30 acres of land at Isihun, Abeokuta, Ogun State, 3,310 sqm at Akin Olugbade, Victoria Island and 1,200 sqm at Alade Street, Ikeja among others.”
The Haldane McCall GMD also pointed out that the company’s listing on NGX is a strategic step towards achieving its ambitious plans, enhancing visibility in the capital market, accessing resources to fund expansion, and making a significant impact in addressing Nigeria’s housing deficit.
Jude Chiemeka, the chief executive officer of NGX, expressed his delight at the listing of Haldane McCall, applauding the company’s commitment to transparency and its valuable role in the country’s real estate sector.
Chiemeka stressed that Haldane McCall’s listing on NGX opens up a world of opportunities for the company, allowing it to leverage the platform’s strengths to further its goals in the real estate sector.
“You are coming into a very huge market, and I believe that you can utilise this market to support all your future aspirations in terms of raising capital to drive the expansion plan that you have,” he stated.