Ellah Lakes Plc (NGX: ELLAHLAKES) has announced the close of its ₦235 billion Public Offer for Subscription of 18.8 billion ordinary shares at ₦12.50 per share.
The announcement on NGX today has details that the offer, which ran from November 10 to December 19, 2025, after deadline extension did not meet the minimum subscription threshold required for allotment.
As a result of this, no shares will be issued, and all subscription monies will be refunded in line with the offer terms.
Despite the outcome, the company reaffirmed its commitment to operational efficiency, improved plantation yields, and greater vertical integration across its palm oil and cassava value chains.
Ellah Lakes also confirmed that its proposed acquisition of Agro-Allied Resources & Processing Nigeria Limited (ARPN) remains on track, with completion expected by the end of Q1 2026, subject to final approvals.
The transaction is expected to strengthen the company’s operational scale and long-term growth trajectory.
Administrator and Writer
