Zichis Agro-Allied Industries Plc has obtained shareholders’ approval to raise up to N50 billion in fresh capital through a mix of equity and debt financing, as the company intensifies its expansion drive across key agribusiness segments.
The approval was granted at the company’s 3rd Annual General Meeting (AGM) held in Ogun State, where shareholders endorsed plans to raise funds via public offers, rights issues, debt instruments, or a combination of both, subject to regulatory approvals.
This includes the issuance of 400 million ordinary shares through a special placing to finance the acquisition of 2,000 acres of land in Ogun State valued at N5.5 billion.
The company is also authorised to raise up to N5 billion through commercial paper and other debt instruments, while increasing its share capital by N1 billion to accommodate new equity issuance.
The planned funding is expected to support expansion in palm oil plantations, feed mill operations, poultry production, and potential acquisitions within the agro-industrial value chain.
In addition, a final dividend of 20kobo per ordinary share of 50kobo and a bonus issue of one new ordinary share for every one existing share held was ratified by shareholders.
What they are saying
Speaking at the AGM, Chairman Hezekiah Adejoh, noted that the capital raise is aimed at strengthening its financial base and supporting its long-term growth strategy. He said the approved dividend and bonus issuance reflect the company’s commitment to enhancing shareholder value.
- “During the year under review, the company made significant progress in strengthening its operational capacity and expansion drive into critical business units such as animal feeds production, to include our crop production units, in order to position ourselves for long-term growth.
- “We are also at the planning stage of expanding our palm oil plantation in the coming year, and this is to reinforce our pressure in a critical segment of the agro- allied industrial market. This initiative aligns with our long-term sustainability vision in wealth creation and preservation,” Adejoh told shareholders.
According to the board chairman, the dividend and bonus payout to shareholders are designed to improve liquidity and reinforce investor confidence in the company’s long-term growth prospects.
More insights
Managing Director Anthonia Akabusi highlighted that the planned capital raise is critical to scaling operations in response to rising demand locally and internationally.
- She added that in 2026, the company aims to expand its feed mill operations and proceed with the acquisition of 2,000 acres of land in Ogun State for oil palm development.
- “Our focus is on expanding production capacity and strengthening our position across key value chains,” she said.
The Managing Director pointed out that the company’s financial performance in 2025 and the returns to shareholders were a sign of better returns in the years ahead.
Get up to speed
Zichis reported strong financial performance for the 2025 financial year, underpinned by expansion across its core operations.
- Revenue rose by 134% to N675.62 million
- Profit before tax increased by 405% to N364.21 million
- Profit after tax climbed by 478% to N328.06 million
- The growth was driven by increased production capacity, improved market penetration, and enhanced operational efficiency.
The company also made significant progress in expanding its animal feed production and crop cultivation units, positioning itself for sustained growth.
Adejoh noted that the company is planning to further expand its palm oil plantation, aligning with its long-term sustainability and wealth creation strategy.
What you should know
Zichis Agro-Allied Industries Plc was admitted to trading on the NGX Growth Board on January 20, 2026, via a listing by introduction of 600 million shares at N1.81 per share. But the share capital doubled to 1.2 billion after the company declared a 1-for-1 bonus.
- Within four weeks of listing, the company’s share price surged to N17.36 by February 20, marking a gain of over 800%.
- The share price was later adjusted to accommodate corporate distribution of one new ordinary share for every single share held, as well as a 20kobo dividend, leaving the stock at an ex-bonus and dividend price of N8.58 per share.
- It has since almost tripled, closing its last trading day on Thursday, April 30, 2026, at N21.78 per share after recording a 10% gain over its previous closing price of N19.80.
Zichis Agro Allied Industries closed its first trading day after listing on January 20, 2026 with a share price of N1.99 and has since gained about 994% on that price valuation, ranking it first on the NGX in terms of year-to-date performance.
The approved funding plan is expected to enhance operational scale, improve efficiency, and reinforce the company’s competitiveness in the industry.
