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).

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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.