Zichis Agro Allied Industries Lists 600 Million Shares on NGX

News in brief:

-Zichis Agro Allied Industries has listed its shares on the NGX at ₦1.81, following strong revenue and profit growth.

-The listing is expected to enhance transparency for investors and improve the company’s access to funding.

Zichis Agro Allied Industries Plc has listed 600 million ordinary shares of 50 kobo each at ₦1.81 per share on the Nigerian Stock Exchange (NGX).

The listing was executed by introduction on the Growth Board of the NGX, following approvals from relevant regulatory authorities.

The company confirmed that all preparations were endorsed at its completion board meeting held recently, where directors and key parties to the transaction formally signed off on the listing process.

Board Pledges Strong Corporate Governance

The Board Chairman of Zichis Agro Allied Industries Plc, Mr Hezekiah Oshaba, assured prospective investors that the company would observe best corporate governance practices.

He stated that the board was committed to complying fully with NGX rules and ensuring long-term value for shareholders.

Oshaba noted that investors naturally expect returns on their capital and stressed that both the board and management were determined to position the company for sustainable growth within the expanding Nigerian capital market.

Management Highlights Transparency and Growth Strategy

The Managing Director and Chief Executive Officer, Mrs Antonia Akabusi, described the NGX listing as a strategic step to reinforce the company’s commitment to transparency, accountability, and shareholder value.

She said management was focused on building a lasting legacy of agricultural excellence and called on shareholders to support the company’s next growth phase.

Akabusi explained that the listing aligns with the company’s disciplined execution strategy and its diversified agribusiness operations, which span poultry production, fish farming, oil palm processing, and animal feed milling.

According to her, these activities are designed to support national food security while delivering measurable economic impact.

Key Advisers and Transaction Parties Named

The transaction is being executed with the support of QCapital Limited and Cordros Capital Limited as joint financial advisers.

Anchoria Investment and Securities Limited is acting as lead stockbroker, alongside Cordros Securities Limited as joint stockbroker. Other professional advisers include V O Olafamoye and Co as auditors, TOLG Solicitors as solicitors to the listing, TAC Professional Services as reporting accountant, and DataMax Registrars Limited as registrar.

Company Records Strong Financial Performance

For the financial year ended 31 December 2024, Zichis Agro Allied Industries Plc reported a turnover of ₦289 million, representing a 119% increase from ₦132 million recorded in 2023.

The company also posted a profit of ₦56.7 million for the year, a 238% rise compared with ₦16.8 million in the previous year.

During the period under review, shareholders approved a dividend of 5 kobo per share, with an option to receive scrip shares instead of cash for those who elected to participate.