Business
Zichis Agro-Allied to List N1.09bn Shares on NGX
Zichis Agro-Allied Industries plans to list N1.09bn shares on NGX growth board, promising transparency and strong investor returns
Zichis Agro-Allied Industries Plc has concluded a board meeting with capital market regulators, financial advisers, and shareholders in preparation for its planned listing by introduction of N1.09 billion shares on the Nigerian Exchange Limited (NGX).
Also read: NGX market cap rises N598bn
The agro-allied firm intends to list 600 million ordinary shares of N0.50 each at N1.81 per share on the NGX growth board.
Financial advisers for the listing include QCAPITAL Limited and Cordros Capital Limited.
In his opening remarks at the signing ceremony, Board Chairman Hezekiah Oshaba pledged adherence to best corporate practices.
“By the time we are listed, we will follow all the guidelines and ensure that our investors do not have any regret in the long run. As businessmen, if you put your money anywhere, you expect returns, and that’s the essence of all of it,” Oshaba said.
He added that both the board and management team are committed to taking the company to a new level.
“The NGX is growing in leaps and bounds, and everybody wants to tap into that growth,” he noted.
Managing Director Anthonia Akabusi described the company’s transition from a limited liability to a public limited company as “a journey of resilience and scalability.”
She assured stakeholders that the company would prioritise transparency, consistent regulatory filings, and effective communication.
“The listing is a starting point. We promise to execute our strategy, and what we present to stakeholders is what the management is going to practice. Our shareholders’ value is what we are holding onto, and we promise not to disappoint,” Akabusi said.
Also read: NGX Index Down By 0.01% As Investors Lose N2bn
Zichis Agro-Allied Industries’ planned listing reflects growing investor confidence in Nigeria’s agro-allied sector and demonstrates the company’s commitment to robust corporate governance.
Tinubu Niger Delta summit opens in Port Harcourt as investors and policymakers gather to drive investment, innovation and industrial growth
Dangote Petroleum Refinery has set its initial public offering price at ₦525 per share, with the company seeking to raise about ₦2.15 trillion as it prepares to enter Nigeria’s public equities market.
The Securities and Exchange Commission has approved the offer for 4.1 billion ordinary shares at ₦525 each. If fully subscribed, the offer would generate approximately ₦2.15 trillion, equivalent to about $1.6 billion at current exchange rates.
The offering is expected to open on 14 September 2026, according to Aliko Dangote, the president of Dangote Industries. The planned sale is positioned to become one of the largest equity offerings in Africa.
The IPO marks a significant step in Dangote Group’s plans to broaden ownership of the refinery and raise additional capital for expansion.
The refinery currently has a stated processing capacity of 650,000 barrels of crude oil per day. Dangote has said the company plans to increase that capacity to 1.4 million barrels per day as part of its longer-term expansion strategy.
The planned share sale follows a $1 billion underwriting programme completed in August, providing additional financial backing ahead of the public offering.
The refinery, located in the Lekki area of Lagos State, is one of Africa’s largest industrial projects and has become an increasingly important player in Nigeria’s fuel supply market since beginning operations.
The public offering will give Nigerian investors an opportunity to acquire shares in the refinery directly, while providing Dangote Petroleum Refinery with fresh capital to support its next phase of growth.
The company has also indicated ambitions to expand beyond its current Nigerian operations, with Dangote recently announcing plans for another refinery project in Kenya.
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