Futureview Asset Management Acquires 10.45% Stake in Zichis

By Aduragbemi Omiyale

A Lagos-based fund and asset management firm, Future Asset Management Limited, has acquired a 10.45 per cent stake in Zichis Agro-Allied Industries Plc.

The Securities and Exchange Commission-regulated company purchased 126,967,213 ordinary shares of Zichis to become one of its major shareholders.

The stocks were bought from an existing Zichis investor, Chilla Entertainment Limited, last Tuesday on the Nigerian Exchange (NGX) Limited.

A notice from Zichis disclosed that “the transaction involves the transfer of existing shares and does not result in the issuance of new shares by the company.”

This deal has changed the organisation’s shareholding structure, the firm disclosed in the statement signed by the company secretary, Mr Solomon Ogie Itsede.

Zichis said it “remains committed to transparency, timely regulatory disclosures and compliance with the applicable rules and regulations of Nigerian Exchange Limited and the Companies and Allied Matters Act, 2020.”

Business Post reports that Future Asset Management is a subsidiary of Futureview Group, established by Mrs Elizabeth Ebi.

Zichis joined the local stock market on Tuesday, January 20, 2026, boosting the market capitalisation of Customs Street by N1.086 billion with the listing of 600 million ordinary shares of 50 Kobo each at N1.81 per unit.

After its share price rose by 859 per cent in one month of its listing on the bourse, the company was suspended, with an investigation into trading activities on the shares launched.

It joined the NGX by introduction at a unit price of N1.81, but within a month, its share price rose to N17.36 per unit.

In March 2026, the suspension was lifted, but its share price was reviewed downward to N8.58 from N17.36.

At the time of filing this report on Monday, November 9, 2026, the share price of Zichis was N17.00 per unit.