Ellah Lakes Public Offer Extended to 19 December 2025 Amid Rising Investor Demand
Ellah Lakes Plc has officially extended its public offer for 18.8 billion shares at N12.50 each to 19 December 2025, following a surge in investor interest. Initially scheduled to close on 5 December, the extension, approved by the Securities and Exchange Commission (SEC), aims to give more investors a chance to participate in the company’s ambitious growth strategy.
The public offer is part of Ellah Lakes’ broader plan to strengthen its presence in the agricultural sector through vertical integration. The company’s management emphasised that the extension reflects their commitment to broad participation and their vision to contribute to food security across Africa. This follows a series of strategic decisions designed to expand Ellah Lakes’ operational and processing capabilities.
Earlier in July 2025, Ellah Lakes concluded an Extraordinary General Meeting (EGM) where shareholders approved several resolutions, including acquiring significant agricultural assets, increasing authorised share capital, and raising up to N250 billion through equity issuance. These actions are expected to bolster the company’s balance sheet by N200 billion and pave the way for substantial revenue growth by 2026.
A major highlight of Ellah Lakes’ growth strategy is its planned acquisition of Agro-Allied Resources & Processing Nigeria Limited. The deal includes over 11,000 hectares of cultivated land, primarily for oil palm and cassava plantations, and an additional 10,000 hectares of uncultivated land. This acquisition will significantly enhance the company’s processing capacity, diversify its crops, and accelerate earnings growth.
Since the public offer opened in November 2025, Ellah Lakes’ stock has surged by 333% year-to-date, making it one of the top performers on the Nigerian Exchange (NGX). With the N235 billion expected from the offer and the ARPN acquisition, the company’s total assets could reach N316 billion, while shareholders’ funds may rise to N271 billion. By 2026, ARPN is projected to contribute N2.25 billion in tax-adjusted EBIT and N76 billion in revenue by 2030, positioning Ellah Lakes for a major leap in profitability.
source: Nairametrics