Ellah Lakes opens N235bn public offer

Ellah Lakes opens N235bn public offer

The integrated agro-industrial enterprise, Ellah Lakes, opened its N235bn public offer on Monday.

The offering was officially declared open during a Facts Behind the Offer presentation at the NGX.

The PUNCH reports that Ellah Lakes Plc is raising N235bn through the issuance of 18.8 billion ordinary shares of 50 kobo each at N12.50 per share. The offer, led by Rand Merchant Bank as lead issuing house, will close on Friday, 5 December 2025.

Chief Executive Officer of Ellah Lakes Plc, Mr Chuka Mordi, speaking at the event, described the offer as a pivotal step in the company’s evolution. He said, “This offer for subscription is about unlocking the next chapter of Ellah Lakes’ growth story. At an offer price of N12.50 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 N235bn equity expansion marks our transition from foundation building to full-scale market expansion, driving sustainable profitability and advancing Nigeria’s food security agenda.”

Deputy Managing Director of Ellah Lakes Plc, Mr Paul Farrer, further detailed the company’s deployment strategy. “Every naira from this raise has a clear strategic purpose. 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.”

At the presentation, the Nigerian Exchange Limited said the offer reinforced its role as a catalyst for capital formation and underscored its commitment to deepening access to long-term financing for businesses driving Nigeria’s real sector growth.

Chief Executive Officer of NGX, Mr Jude Chiemeka, commended Ellah Lakes for leveraging the Nigerian capital market as a springboard for expansion.

“The launch of this N235bn 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 transaction offers institutional and retail investors the opportunity to participate in one of Nigeria’s most ambitious agro-industrial expansion stories, reinforcing NGX’s position as the exchange of choice for transformative financing.

Source: https://punchng.com/ellah-lakes-opens-n235bn-public-offer