Zichis Agro-allied Industries Plc has completed a plan to list by introducing its N1.09 billion shares on the Nigerian Exchange Limited (NGX).
The agro-allied company concluded an arrangement to list by introduction 600 million ordinary shares of N0.50 each at N1.81 kobo per share, translating into N1.09 billion on the growth board of the NGX.
Financial advisers at a board meeting held in Lagos to firm up the decision include QCAPITAL Limited and Cordros Capital Limited.
The Board Chairman of Zichis Agro-allied, Hezekiah Oshaba, assured stakeholders that the company would be anchored on best corporate governance practices upon its listing on the exchange.
He said the board is committed to complying fully with all regulatory guidelines, stressing that the goal is to protect investor interests and deliver sustainable value over the long term.
Oshaba noted that investors naturally expect returns on their capital, describing this expectation as central to the company’s strategy.
He further expressed confidence in the capacity of both the board and management to elevate the organisation’s performance, adding that the rapid growth of the NGX presents a compelling opportunity that Zichis Agro-allied Industries is well-positioned to harness.
Managing Director of the company, Anthonia Akabusi, described the company’s transition from a private limited entity to a public limited company as a significant milestone marked by resilience and the pursuit of scale.
She noted that the planned listing on the exchange represents the beginning of a new phase for the company.
Akabusi assured investors, stakeholders and regulators that management is firmly committed to transparency, timely and consistent regulatory filings, and strict adherence to disclosure standards.
She also stated that the company is prepared to continuously learn and adapt to the requirements of the capital market, with a communication team positioned to engage constructively and make necessary adjustments.
According to her, the strategy presented to stakeholders will be faithfully executed after listing, with the protection and enhancement of shareholder value remaining a core priority.
Financial Adviser and Managing Director of QCAPITAL Limited, Adeboye Teriba, expressed confidence in the readiness of Zichis Agro-allied management to learn and adapt to the demands of the capital market.
He said the advisory firm was committed to supporting the company beyond its market entry, noting that the objective is not only to take Zichis Agro-allied to the market but also to provide sustained guidance, with expectations of expansion in its market capitalisation within the next year.
