- The Initiates Plc launched a Combined Offer consisting of a Rights Issue at N7.00 per share and a Public Offer at N9.50 per share to raise capital for expansion and operational strengthening.
- Company leaders emphasized the offer as a strategic move to scale operations, invest in technology, and enhance shareholder value while reinforcing confidence in the Nigerian capital market.
- TIP ended Q3 2025 as one of the top 3 performing stocks on the NGX with over 480% capital appreciation, reflecting strong investor confidence and growth momentum.
The Initiates Plc (TIP), the only listed and leading Nigerian environmental and waste management solutions company, held the official signing ceremony and Facts Behind the Combined Offer last week.
The Combined Offer comprises a Rights Issue of 177,996,310 ordinary shares of N0.50 each at a Right Price of N7.00 per share, and a Public Offer of 932,022,138 ordinary shares of N0.50 each at N9.50 per share.
The events marked a key milestone in the company’s capital-raising journey, aimed at supporting its strategic expansion and strengthening its operational capacity in the environmental services industry in line with its plan to consolidate in the hazardous waste and goal of entering public waste sectors.
Speaking at the Fact Behind the Combined Offer, the Chief Executive Officer of NGX Regulation, Mr Jude Chiemeka “What we have seen today. I mean, all of that was clearly articulated, they have very strong performance metrics and have done very well as a growth board-listed company. From what we’ve heard today, they do have an aspiration to move on to the main board of the exchange, which stands at N4 billion. We’re really delighted that they came 9 years ago, and now they are coming back to utilize the market. It just testifies to the strength of our market”
Whilst speaking during both events, the Board Chairman of The Initiates Plc, Mr. Joe Anosikeh, expressed optimism about the combined offer, noting that it represents a major step in the company’s long-term vision of scaling up operations, driving innovation, and delivering greater value to shareholders. “Today’s signing is more than a financial milestone — it reflects our confidence in the Nigerian capital market and our commitment to sustainable value creation. The proceeds from this offer will enable us to deepen our service capacity, expand our reach, and continue to uphold the highest standards in environmental and industrial management”.
In his remarks, the Managing Director, Mr. Reuben Mustapha Ossai, highlighted that the hybrid offer aligns with TIP’s growth trajectory and will enable the company to consolidate its position as a leader in sustainable waste management and industrial solutions across Nigeria and West Africa. “This combined offer is a strategic initiative that reinforces our growth agenda. We are focused on expanding our asset base, investing in technology, and enhancing shareholder value. We appreciate the support of our partners and regulators as we move into this next phase of our journey.”
He added that the Initiates will continue to reward its shareholders for their trust and unflinching support. The Initiates ended Q3 2025 as one of the top 3 most performing stocks on the NGX with capital appreciation in excess of 480%.
