Nigerian agribusiness giant Ellah Lakes Plc has announced the launch of a ₦235 billion public offer, marking a bold step in its growth and expansion drive. The fundraiser is a cornerstone of the company’s five-year strategy to achieve ₦200 billion in annual revenue, with a focus on scaling its agricultural operations, enhancing processing capacity, and diversifying product lines.
Speaking at its “Facts Behind the Offer” presentation on the Nigerian Exchange Limited (NGX), Ellah Lakes revealed that it is issuing 18.8 billion ordinary shares at ₦12.50 per share, each valued at 50 kobo. The offer, which opened on November 10, 2025, will close on December 5, 2025. The company has appointed Rand Merchant Bank (RMB) as the Lead Issuing House, underscoring its commitment to transparency and investor confidence.
Ellah Lakes’ Chief Executive Officer, Chuka Mordi, described the capital raise as more than a financial exercise — a pivotal moment in the company’s transformation story. “This offer for subscription is about unlocking the next chapter of Ellah Lakes’ growth,” Mordi said. “With over 30,000 hectares of diversified assets and strong processing capacity, we’re transitioning from foundation building to full-scale market expansion. This is about profitability, investor returns, and advancing Nigeria’s food security agenda.”
Deputy Managing Director Paul Farrer highlighted that the proceeds will be strategically deployed to integrate newly acquired Agro-Allied Resources & Processing Nigeria Limited (ARPN) and upgrade existing crude palm oil and cassava processing mills. According to him, every naira raised has a clear purpose: “to accelerate operational efficiency, unlock greater value from every hectare, and deliver strong returns to shareholders.”
Commending the move, NGX CEO Jude Chiemeka said the offer demonstrates the depth and resilience of Nigeria’s capital market. “We’re pleased to see an indigenous agribusiness like Ellah Lakes leverage the Exchange to scale operations and deepen value creation across the agricultural value chain,” he said. “This ₦235 billion equity raise is a strong signal of investor confidence and a milestone for Nigeria’s agro-industrial growth.”
source: leadership