Trading in the shares of Zichis Agro-Allied Industries Plc (NGX: ZICHIS) has officially resumed on the Nigerian Exchange Limited (NGX) following the lifting of its suspension, even as the company’s stock price recorded a sharp decline of over 50 per cent.
According to a market bulletin issued by NGX Regulation Limited, the suspension placed on Zichis Agro-Allied Industries Plc has been lifted effective Monday, March 23, 2026, after the Exchange concluded its investigation into the company’s trading activities and implemented corrective measures to ensure market integrity.
The resumption of trading comes amid a 50.58 per cent significant drop in the company’s share price. The stock declined from N17.36 per share it closed prior to the suspension to N8.58 per share on Monday, reflecting a loss of N8.78 per share.
However, the sharp decline is not due to a sell-off, but due to a price adjustment following the company’s corporate actions. The adjustment reflects a bonus issue of one new share for every one share held (1-for-1 bonus) alongside a dividend payout of 20 kobo per share, after the closure of the register on March 17, 2026.
At the time of this report, the stock price is up by 9.91 per cent to N9.43 per share on the floor of the NGX today.
It would be recalled that the NGX had on March 2, 2026 suspended trading in the company’s shares, after the stock experienced an extraordinary price surge of over 800 per cent within one month of its listing. The rapid price appreciation raised concerns about market stability and prompted regulatory intervention.
Zichis Agro-Allied Industries Plc was listed on the NGX on January 20, 2026, with 600 million shares issued at N1.81 per share. Since listing, the stock has witnessed heightened investor interest, leading to volatile price movements.
With trading now restored, market participants are expected to closely monitor the stock’s performance in the coming sessions, particularly as the effects of the recent corporate actions and regulatory measures continue to shape investor sentiment.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
