Ellah Lakes Plc, an integrated agro-industrial enterprise, has opened a ₦235 billion public offer to unlock its next growth strategy.
The company officially declared it opened during a Facts Behind the Offer Presentation at the Nigerian Exchange Limited (NGX) on Monday, November 10.
Ellah Lakes said it is issuing 18.8 billion ordinary shares at ₦12.50 per share, and the offer will close on Friday, December 5, 2025, noting Rand Merchant Bank as the lead issuing house.
The Chief Executive Officer, Chuka Mordi, expained that the offer will serve as a pivotal step in the company’s evolution.
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“This offer for subscription is about unlocking the next chapter of Ellah Lakes’ growth story. At an offer price of ₦12.50 per share, this raise reflects the intrinsic value of our scaled, integrated platform. We are inviting investors to participate in a clear growth trajectory built on over 30,000 hectares of resilient, diversified assets and strong processing capacity.
“The ₦235bn equity expansion marks our transition from foundation building to full-scale market expansion, driving sustainable profitability and advancing Nigeria’s food security agenda,” Mordi said.
Its Deputy Managing Director, Paul Farrer, explaining the company’s deployment strategy, added, “Every naira from this raise has a clear strategic purpose.
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“The proceeds will accelerate integration of the newly acquired Agro-Allied Resources & Processing Nigeria Limited assets and upgrade our crude palm oil and cassava processing facilities. Our goal is to deliver a step-change in operational efficiency and scale, maximising value for shareholders and contributing to the broader agro-industrial ecosystem.”
According to NGX, the offer reinforced its role as a catalyst for capital formation. It underscored its commitment to deepening access to long-term financing for businesses driving Nigeria’s real sector growth.
“The launch of this ₦235bn equity raise underscores the depth and resilience of Nigeria’s capital market as a strategic enabler of corporate growth. At NGX, we are particularly pleased to see a leading indigenous agribusiness like Ellah Lakes harness the market to scale its operations and deepen value creation across the agricultural value chain.
“This offer represents not only an opportunity for investors to participate in the country’s agro-industrial expansion but also a strong signal of renewed confidence in the Exchange as a gateway for transformative capital formation,” the NGX Chief Executive Officer, Jude Chiemeka, said, commending Ellah Lakes for leveraging the Nigerian capital market as a springboard for expansion.
Alex is a business journalist cum data enthusiast with the Pinnacle Daily. He can be reached via ealex@thepinnacleng.com, @ehime_alex on X
