Zichis Agro-Allied Industries Plc has issued an official clarification to dispel speculation about an imminent Initial Public Offering (IPO) or public share offering, following recent media reports.
In a statement released on Monday, 13 April 2026, and signed by the Company Secretary, the company emphasised that no official announcement has been made regarding any IPO or related capital-raising activity at this time.
Zichis Agro-Allied Industries Plc is a Nigerian integrated agribusiness firm incorporated in 2012 and converted to a public limited company in 2024.
It operates across various agricultural value chains, including oil palm farming, poultry and fish production, animal feed manufacturing, crop cultivation (such as plantain, rice, and maize), and livestock operations like piggery, snail farming, and ranching.
The company is headquartered in Imegun Village, Ijebu Itele, Ogun State
It was listed on the Nigerian Exchange Limited (NGX) Growth Board in January 2026 via a listing by introduction at ₦1.81 per share.
The stock experienced a significant surge—reportedly over 700-800% within a matter of weeks—before trading was temporarily suspended by the NGX for regulatory review.
Trading has since resumed, with the share price around ₦12.90 as of 13 April 2026.
While denying IPO rumours, Zichis confirmed it has proposed to seek shareholders’ approval at its upcoming Annual General Meeting (AGM) to raise additional capital.
This could take the form of equity, debt, or a combination of both, subject to necessary regulatory approvals and prevailing market conditions.
The company stressed that the structure, timing, and specific details of any capital raise remain undecided, and no transaction has been concluded.
It advised shareholders and the investing public to rely solely on official communications issued through the NGX and other authorised regulatory platforms..
Administrator and Writer
