In its bid to solidify its position as one of the leading indigenous agro-industrial giants in West Africa, Ellah Lakes Plc has launched a public offer to raise N235 billion to fund its expansion plans in the palm oil and livestock sectors.

One of the aims of this public offer is to consolidate our position as the leading supplier of key agricultural produce across West Africa through good and sustainable agricultural practices, while ensuring improved living standards and sustainable returns for our stakeholders.

The public offer, priced at N12.50 per share, will see Ellah Lakes issue 18.8 billion new shares to the public. Proceeds from the offer will be used to acquire Agro-Allied Resources & Processing Nigeria Ltd (ARPN), upgrade processing facilities, and expand the company’s palm oil and livestock operations, with the goal of becoming the largest Piggery in Nigeria.

The Chief Executive Officer of Ellah Lakes, Mr Chuka Mordi, described the offer as “a definitive statement of intent,” signalling the company’s commitment to delivering economies of scale, market resilience, and long-term value creation for shareholders.

“We are confident that by deploying this capital effectively and executing our clear strategy, Ellah Lakes will solidify its position as the undisputed leading indigenous agro-industrial giant in West Africa.”

He noted that the acquisition of ARPN is expected to deliver immediate scale and financial benefits, adding approximately 11,783 hectares of cultivated land and 10,393 hectares of undeveloped land to Ellah Lakes’ portfolio.