In a significant move for Nigeria's agricultural sector, Zichis Agro-allied Industries Plc has finalised plans to become a publicly traded company. The firm is set to list its shares valued at N1.09 billion on the Growth Board of the Nigerian Exchange Limited (NGX).
Details of the Share Listing
The agro-allied company concluded arrangements to list by introduction 600 million ordinary shares of 50 kobo each. The shares are priced at N1.81 per share, which aggregates to the total value of N1.09 billion. The board meeting to firm up this landmark decision was held in Lagos. The financial advisers for this listing process are QCAPITAL Limited and Cordros Capital Limited.
Leadership Commitment to Governance and Growth
The Board Chairman of Zichis Agro-allied, Hezekiah Oshaba, provided strong assurances to stakeholders. He stated the company's listing will be anchored on best corporate governance practices. Oshaba emphasised the board's commitment to full compliance with all regulatory guidelines, with the core goal of protecting investor interests and delivering sustainable long-term value.
"Investors naturally expect returns on their capital, and this expectation is central to our strategy," Oshaba noted. He expressed confidence in the capacity of the board and management to elevate the company's performance. He also highlighted the rapid growth of the NGX as a compelling opportunity that Zichis Agro-allied is well-positioned to harness.
A New Phase of Corporate Evolution
The Managing Director, Anthonia Akabusi, described the company's transition from a private limited entity to a public limited company as a major milestone. She characterised this journey by resilience and a pursuit of scale. Akabusi stated that the planned listing signifies the beginning of an exciting new chapter for the organisation.
She gave firm assurances to investors, stakeholders, and regulators. Management is committed to:
- Transparency in all operations.
- Timely and consistent regulatory filings.
- Strict adherence to disclosure standards.
Akabusi added that the company is prepared to continuously learn and adapt to capital market requirements. A dedicated communication team is positioned to engage constructively and make necessary adjustments. She confirmed that the strategy presented to stakeholders will be faithfully executed post-listing, with the protection and enhancement of shareholder value remaining a core priority.
Advisory Confidence and Future Outlook
Financial Adviser and Managing Director of QCAPITAL Limited, Adeboye Teriba, voiced confidence in the readiness of Zichis Agro-allied's management. He believes the team is well-equipped to learn and adapt to the demands of the capital market. Teriba stated that his firm's commitment extends beyond just facilitating the market entry.
"Our objective is not only to take Zichis Agro-allied to the market but also to provide sustained guidance," he said. Teriba expressed expectations for an expansion in the company's market capitalisation within the next year, signalling strong growth prospects following the listing.
This listing represents a vote of confidence in the agro-allied sector and provides Nigerian investors with a new opportunity to participate in the growth of a company transitioning into the public sphere.
