|
Listen now
Getting your Trinity Audio player ready...
|
Six members of the family of Adegbite Falade, the Managing Director and CEO of Aradel Holdings Plc, purchased 293,600 units of the company’s shares worth ₦205.5 million.
Jesuferanmi Ayodeji Falade purchased 49,100 shares valued at N34.37 million, Jesupamilerin Olaoluwa Falade purchased 49,100 shares valued at N34.37 million, Olanike Arinola Falade purchased 175,900 shares valued at N123.1 million, Ibukunoluwakiitan Inioluwa Falade purchased 6,500 shares worth N4.55 million, Toluwalase Tanitoluwa Falade bought 6,500 shares worth N4.55 million and Oluwatomisin Oreoluwa Falade bought 6,500 shares worth N4.55 million.
Aradel Holdings Plc recently saw its target price raised 60% as it reported strong Half Year 2026 earnings, supported by higher crude and refined product volumes as well as a $46.0 million uplift in profit from associates ND Western and Renaissance Africa Energy Company (RAEC).
Analysts at Cardinal Stone led by Philip Anegbe maintained a BUY rating on the stock, with the revised Target Price of N848 per share.
Aradel is also expected to see earnings upside on the acquisition of an additional 40% equity stake in ND Western (NDW).
Aradel Energy Limited currently owns 41.67% of NDW.
Upon completion of the transaction, Aradel’s total shareholding in NDW will significantly increase, reinforcing its strategic position within Nigeria’s upstream oil and gas sector.
NDW holds a 45% participating interest in OML 34, a producing Oil Mining Lease located in the Western Niger Delta.
OML 34 contains material crude oil and associated gas reserves contributing to Nigeria’s domestic energy supply and exports.
In addition, NDW owns 50% of the share capital of Renaissance Africa Energy Holding Company Ltd, the parent company of Renaissance Africa Energy Company Limited which operates the Renaissance Joint Venture.
Follow the MoneyCentral Nigeria channel on WhatsApp: Click here!
