Zichis Agro-Allied Industries Plc has obtained shareholders’ approval to raise up to N50 billion in fresh capital through a mix of equity and debt financing, as the company intensifies its expansion drive across key agribusiness segments.
- +Zichis Plc secures shareholders’ approval for N50 billion capital raise
The approval was granted at the company’s 3rd Annual General Meeting (AGM) held in Ogun State, where shareholders endorsed plans to raise funds via public offers, rights issues, debt instruments, or a combination of both, subject to regulatory approvals.
The approval was granted at the company’s 3rd Annual General Meeting (AGM) held in Ogun State, where shareholders endorsed plans to raise funds via public offers, rights issues, debt instruments, or a combination of both, subject to regulatory approvals.
This includes the issuance of 400 million ordinary shares through a special placing to finance the acquisition of 2,000 acres of land in Ogun State valued at N5.5 billion.
The company is also authorised to raise up to N5 billion through commercial paper and other debt instruments, while increasing its share capital by N1 billion to accommodate new equity issuance.
The planned funding is expected to support expansion in palm oil plantations, feed mill operations, poultry production, and potential acquisitions within the agro-industrial value chain.
In addition, a final dividend of 20kobo per ordinary share of 50kobo and a bonus issue of one new ordinary share for every one existing share held was ratified by shareholders.
Speaking at the AGM, Chairman Hezekiah Adejoh, noted that the capital raise is aimed at strengthening its financial base and supporting its long-term growth strategy. He said the approved dividend and bonus issuance reflect the company’s commitment to enhancing shareholder value.
According to the board chairman, the dividend and bonus payout to shareholders are designed to improve liquidity and reinforce investor confidence in the company’s long-term growth prospects.
Managing Director Anthonia Akabusi highlighted that the planned capital raise is critical to scaling operations in response to rising demand locally and internationally.
The Managing Director pointed out that the company’s financial performance in 2025 and the returns to shareholders were a sign of better returns in the years ahead.
Zichis reported strong financial performance for the 2025 financial year, underpinned by expansion across its core operations.
The company also made significant progress in expanding its animal feed production and crop cultivation units, positioning itself for sustained growth.
Adejoh noted that the company is planning to further expand its palm oil plantation, aligning with its long-term sustainability and wealth creation strategy.
Zichis Agro-Allied Industries Plc was admitted to trading on the NGX Growth Board on January 20, 2026, via a listing by introduction of 600 million shares at N1.81 per share. But the share capital doubled to 1.2 billion after the company declared a 1-for-1 bonus.
Zichis Agro Allied Industries closed its first trading day after listing on January 20, 2026 with a share price of N1.99 and has since gained about 994% on that price valuation, ranking it first on the NGX in terms of year-to-date performance.
The approved funding plan is expected to enhance operational scale, improve efficiency, and reinforce the company’s competitiveness in the industry.
