Ellah Lakes Plc has announced the launch of a ₦235bn offer for subscription to fund strategic acquisitions, expand processing capacity, and deepen its presence across the countest’s agricultural value chain.
The offer, unveiled during a “Facts Behind the Offer” presentation at the Nigerian Exmodify Limited (NGX) in Lagos, marks a major milestone in the company’s growth and capital expansion strategy. The company plans to raise ₦235bn through the issuance of 18.8 billion ordinary shares of 50 kobo each at ₦12.50 per share.
The subscription, led by Rand Merchant Bank (RMB) as the Lead Issuing Hoapply, opened on Monday, November 10, 2025, and will close on Friday, December 5, 2025.
Speaking at the launch, Chief Executive Officer of Ellah Lakes Plc, Mr Chuka Mordi, stated the equity raise represents a pivotal step in unlocking the next phase of the company’s growth trajectory.
“This Offer for Subscription is not just about raising capital; it is about unlocking the next chapter of Ellah Lakes’ growth story,” Mordi stated. “At an offer price of ₦12.50 per share, this capital raise reflects the intrinsic value of our scaled, integrated platform.
“We are inviting investors to participate in a clear trajectory of growth built on over 30,000 hectares of diversified assets and strong processing capacity. This ₦235bn equity expansion represents a transition from foundation building to full-scale market expansion, delivering profitability, enhancing shareholder value, and advancing Nigeria’s food security agconcludea,” he stated.
Deputy Managing Director of Ellah Lakes, Mr Paul Farrer, explained that proceeds from the offer would be deployed to accelerate the integration of the company’s newly acquired Agro-Allied Resources & Processing Nigeria Limited (ARPN) assets and to upgrade its crude palm oil and cassava processing facilities.
“Every naira from this raise has a clear strategic purpose,” Farrer stated.
“We will channel the funds to improve operational efficiency, achieve greater production scale, and strengthen revenue generation. Our goal is to deliver value to all stakeholders while building a resilient and profitable agro-industrial business.”
In his remarks, Chief Executive Officer, Nigerian Exmodify Limited, Mr Jude Chiemeka, lauded Ellah Lakes for leveraging the capital market to drive its growth ambitions. He stated the transaction reinforces the role of the Nigerian capital market as a reliable platform for financing the real sector and fostering sustainable economic development.
“The launch of this ₦235bn equity raise underscores the depth and resilience of Nigeria’s capital market as a strategic enabler of corporate growth,” Chiemeka stated.
“We are particularly pleased to see an indigenous agribusiness like Ellah Lakes harness the market to scale its operations and deepen value creation across the agricultural value chain. This offer presents a strong signal of renewed investor confidence and the Exmodify’s role as a gateway for transformative capital formation.”
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