Ellah Lakes to Unlock Next Growth Trajectory With N235bn Equity Offer

By Aduragbemi Omiyale

The chief executive of Ellah Lakes Plc, Mr Chuka Mordi, has described the N235 billion equity offer as a pivotal step in the company’s evolution.

“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 N235 billion equity expansion marks our transition from foundation building to full-scale market expansion, driving sustainable profitability and advancing Nigeria’s food security agenda,” he stated.

Also, the deputy chief executive of the firm, Mr Paul Farrer, said, “Every Naira from this raise has a clear strategic purpose.

“The proceeds will accelerate integration of the newly acquired Agro-Allied Resources and Processing Nigeria Limited (ARPN) 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.”

Business Post reports that the offer was launched during a Facts Behind the Offer presentation at the Nigerian Exchange (NGX) Limited.

The chief executive of NGX Limited, Mr Jude Chiemeka, said, “The launch of this N235 billion 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.”

Ellah Lakes is a pioneering integrated agro-industrial enterprise in Nigeria raising N235 billion through the issuance of 18.8 billion ordinary shares of 50 Kobo each at N12.50 per share.

The exercise is led by Rand Merchant Bank (RMB) as the lead issuing house. It commenced on Monday, November 10, 2025, and will close on Friday, December 5, 2025.