Zichis key shareholder sells 10.45% stake to Futureview Asset Management

Futureview Asset Management Limited has acquired 126,967,213 ordinary shares of Zichis Agro-Allied Industries Plc from Chilla Entertainment Limited, becoming a substantial shareholder with a 10.45% stake in the company’s issued share capital.

The transaction was disclosed in a notification filed by Zichis with the Nigerian Exchange (NGX) on Monday, November 9, 2026, following its cFutureview Asset Management Limited has acquired 126,967,213 ordinary shares of Zichis Agro-Allied Industries Plc from Chilla Entertainment Limited, becoming a substantial shareholder with a 10.45% stake in the company’s issued share capital.ompletion on November 3.

The acquisition involved existing shares rather than a fresh issuance, meaning the transaction did not increase the company’s issued share capital.

Futureview acquires major Zichis stake:

The share transfer represents a significant ownership change involving Chilla Entertainment Limited, one of Zichis Agro-Allied Industries’ core promoters.

Nairametrics previously reported that Chilla and Winners Investment & Trust Limited had injected N2 billion in non-equity capital into the company.

• Futureview Asset Management acquired 126,967,213 ordinary shares, representing 10.45% of Zichis’ issued share capital.
• At the November 6 closing price of N17 per share, the acquired block had an indicative market value of approximately N2.16 billion.
• Zichis closed trading on November 6 at N17, gaining 2.9% from the previous price of N16.52.
• The stock has appreciated by approximately 754% from its N1.99 closing price on its January 20 listing day, ranking second on the NGX by year-to-date performance.
• The NGX notification did not disclose the consideration paid by Futureview, Chilla’s remaining shareholding or the reason for the transaction.
• Zichis said it remained committed to transparency, timely disclosures and compliance with NGX rules and the Companies and Allied Matters Act, 2020.
• With approximately 1.2 billion shares outstanding, the company’s market capitalisation stood at about N20.4 billion at the November 6 closing price.

Zichis also reported a free float of 379.11 million shares, representing 31.59% of its issued share capital, which it said satisfied NGX Growth Board requirements.

Zichis profit rises 179%:

The ownership change follows a period of strong financial performance for Zichis Agro-Allied Industries, with significant increases in revenue and profitability during the first nine months of 2026.

Nairametrics previously reported that the company’s pre-tax profit increased by 179.21% to N561.32 million for the period ended September 30, 2026.

• Revenue rose by 162.63% to N1.22 billion during the nine-month period.
• Total assets increased by 719.36% to N8.71 billion.
• The company’s reported assets included approximately N5 billion in deposits for shares, classified as a non-current liability.
• The November 3 transaction involved only the transfer of shares already in issue.

Futureview’s 10.45% holding therefore reflects the company’s disclosed ownership position following the transaction, subject to any subsequent changes in issued share capital or shareholdings.

Zichis expands into oil palm:

Zichis Agro-Allied Industries listed by introduction on the NGX Growth Board on January 20, 2026, before recording substantial share-price appreciation during its first months of trading.

On October 27, Nairametrics reported that Zichis had begun acquiring a 221-hectare oil palm plantation from Amandel Nigeria Limited.

• The company appointed Futureview Financial Services Limited as financial adviser for the proposed plantation acquisition.
• Shareholders approved plans in May to raise up to N50 billion through a combination of equity and debt financing.
• At its September 30 closing price of N19.90, Zichis valued its free-float shares at approximately N7.54 billion.
• The proposed plantation acquisition represents another development in the company’s expansion plans, while the approved fundraising provides a framework for potential additional financing.
• For shareholders, the latest transaction introduces a new substantial investor without changing the number of shares currently in issue.

Further developments will depend on subsequent ownership disclosures, the progress of Zichis’ proposed acquisition and any implementation of its approved capital-raising plans.