The Aradel listing has resulted in a significant increase in the market capitalization of the NGX by N3 trillion.

Aradel Holdings Plc made its debut on the Main Board of the Nigerian Exchange on Monday, listing 4.34 billion shares and increasing the market capitalization by approximately N3.05 trillion.

The shares were introduced at a price of N702.69 each through a 'Listing by Introduction', enhancing the oil and gas sector's presence in the equity market.

As a significant player in Nigeria's oil and gas landscape, Aradel Holdings is involved in all aspects of the oil and gas value chain, including exploration, production, and refining of petroleum products.

This listing provides investors with the chance to connect with one of Nigeria's most diversified energy firms, establishing it as a prominent player on the exchange.

During the Facts Behind the Listing event held on Monday, the company's senior executives shared insights into its growth strategy and financial performance with investors and stakeholders.

The Chairman of Nigerian Exchange Group, Dr Umaru Kwairanga, highlighted the importance of the listing, saying, “This achievement is not just a win for Aradel, but also a clear indication to both local and global investors that Nigeria’s capital market remains vibrant, resilient, and full of opportunities. We are honoured to facilitate capital raising for companies like Aradel that play a critical role in Nigeria’s economic progress.”

The Chief Executive Officer of NGX, Jude Chiemeka, elucidated the pivotal role of NGX in fostering corporate expansion and groundbreaking innovation, “Aradel’s listing highlights NGX’s ability to support leading companies in their growth journey. This is not just a milestone for Aradel, but a key moment for the energy sector, demonstrating how the capital market can fuel efficiency and development in critical industries.”

Additionally, the Chairman of Aradel Holdings, Mr. Ladi Jadesimi, emphasized the company’s commitment to innovation and sustainability. He noted that Aradel is well-positioned to expand its presence in the renewable energy sector while maintaining its leadership position in the oil and gas industry.

“The listing of Aradel Holdings on NGX represents a pivotal moment for us,” Jadesimi said. “We are committed to driving sustainable growth in Nigeria’s energy industry, particularly in the renewables space, while continuing to excel in petroleum product exploration and refining. This listing provides us with the platform to unlock further value for our shareholders,” he said.

Regarding the listing, the Managing Director and Chief Executive Officer of Aradel, Mr. Adegbite Falade, remarked, “This will mark a historic milestone for Aradel as we list on the NGX, underscoring our commitment to creating long-term value for our shareholders and deepening our contributions to Nigeria’s economic landscape.

This listing is a testament to our resilience, adaptability, and unwavering dedication to providing sustainable energy solutions that drive growth across our communities and industries.

“As we embark on this new chapter in Aradel’s transformation journey, we remain focused on operational excellence, strategic expansion, and delivering returns that reflect our track record and vision for an energised future.”

The All-Share Index experienced a rise of 0.62 percent, resulting in a closing value of 98,215.13. Consequently, the market capitalization increased by N3.42 trillion, reaching a new value of N59.51 trillion.