Cardinal Stone: Oil price volatility, security issues key risks for Aradel Holdings

Cardinal Stone Securities believes key risks to expectations following Aradel Holdings listing on the Nigerian Exchange include potential delays in regulatory approvals, oil price volatility, strong competition, infrastructure downtime, and security issues in the Niger Delta that could disrupt operations. The Securities firm, however, notes the likely exploration of 2C contingent resources and the success of strategic acquisitions are major upside risks. Adebayo Adebanjo, Senior Analyst at Cardinal Stone Securities joins CNBC Africa for more on this and other equities market updates.