Ellah Lakes Plc, (NGX: ELLAHLAKES) has extended the closing date of its ₦235 billion public offer to December 19, following approval from the Securities and Exchange Commission (SEC).
According to notice on NGX on the 5th of December.
The offer, which opened on November 10 and was originally set to close on December 5, involves 18.8 billion ordinary shares of 50 kobo each priced at ₦12.50 per share.
This extension responds to surging investor demand, allowing broader participation in the company’s growth.
The net proceeds of approximately ₦232.18 billion will primarily fund strategic expansions: ₦155 billion for acquiring an oil palm plantation, ₦45 billion for a high-quality cassava flour processing plant, ₦8 billion for an oil palm mill, ₦8 billion for commercial piggery development, and ₦16.18 billion for working capital.
These investments aim to enhance vertical integration, scale production, and strengthen food security in Africa.
Administrator and Writer
