As a prominent real estate and hospitality group in Africa's emerging market, Haldane McCall Plc is the owner of the well-known Suru Express Hotels and Suru Homes brands in West Africa.
The company will introduce 3.122 billion ordinary shares, each valued at 50 kobo, at a price of N3.84 per share.
This listing is expected to enhance the NGX market capitalization by N11.98 billion.
Finmal Finance Services Limited has been appointed as the stockbroker for this listing, which received approval on October 10.
Haldane McCall anticipates that this introduction will solidify its position as a key player in the West African real estate and hospitality sectors.
Incorporated on March 27, 2012, as a private limited company, Haldane McCall has a strong focus on real estate with a promising future.
The company has successfully developed and marketed luxury residential apartments in the upscale Ikeja GRA area, retaining prime properties in the region for future speculation and development.
In response to the Central Bank of Nigeria's intervention, Haldane McCall has streamlined its investment strategy, concentrating on real estate and hospitality. In the medium term, the group aims to establish 45 budget hotels under the Suru Express brand and construct 100 units of low-cost residential estates to support the Federal Government's initiative for affordable housing.
The company has acquired a significant tract of land in Lagos State, Nigeria, a key commercial hub, to develop low-cost housing.