Ellah Lakes Plc has introduced the extension of its public provide for 18.8 billion shares at N12.50 every, following a surge in investor curiosity.
Initially scheduled to shut on 5 December 2025, the provide will now stay open till 19 December 2025, with approval granted by the Securities and Change Fee (SEC).
The general public provide is a part of Ellah Lakes’ broader technique to increase its attain throughout the agricultural sector, notably by means of its vertically built-in enterprise mannequin.
The corporate’s administration highlighted the extension as a response to investor urge for food and a dedication to making sure broad participation in shaping the way forward for meals safety throughout Africa.
Backstory
Ellah Lakes Plc has been strategically positioning itself for strong development by means of a sequence of main company actions.
On 29 July 2025, the corporate introduced the profitable conclusion of its Extraordinary Basic Assembly (EGM), the place shareholders accepted a number of important resolutions that marked a pivotal section in Ellah Lakes’ development and repositioning.
Among the many resolutions handed had been:
- Approval for the acquisition of a big agricultural asset, which can increase Ellah Lakes’ operational footprint and processing capability.
- Authorization to boost as much as N250 billion in new fairness capital by means of varied fairness issuance mechanisms to fund the acquisition and different strategic initiatives.
- Improve within the licensed share capital to accommodate the forthcoming capital elevate and associated transactions.
Chuka Mordi, the corporate’s Managing Director/CEO, expressed that these resolutions aligned shareholders with the corporate’s strategic imaginative and prescient.
The strikes are anticipated to contribute N200 billion to Ellah Lakes’ steadiness sheet and generate important income development by 2026.
The corporate additionally highlighted updates such because the commissioning of a 5-ton Crude Palm Oil (CPO) processing mill, and the launch of a piggery initiative as a part of its diversification technique.
On 8 October 2025, Ellah Lakes took one other important step in its enlargement technique by asserting an settlement to purchase Agro-Allied Sources & Processing Nigeria Restricted (ARPN).
This acquisition follows shareholder approval from the July EGM and can see Ellah Lakes purchase 100% of ARPN’s shares.
- The property embrace over 11,000 hectares of cultivated land, primarily used for oil palm and cassava plantations, and an extra 10,000 hectares of uncultivated land.
- The oil palm plantations are well-positioned for sustained productiveness, with most bushes over 4 years previous coming into peak productiveness.
- This acquisition will considerably improve Ellah Lakes’ processing capability, crop diversification, and vertical integration.
The deal is ready to place Ellah Lakes to double its manufacturing footprint and speed up earnings development.
After the announcement of the settlement to purchase Agro-Allied Sources & Processing Nigeria Restricted (ARPN) on 8 October 2025, Ellah Lakes Plc formally opened its public provide on 10 November 2025 to boost N235 billion by means of the issuance of 18,800,000,000 peculiar shares at N12.50 per share.
The web proceeds, estimated at N232.2 billion, are earmarked to help the acquisition of ARPN, bolster Ellah Lakes’ operational enlargement, and meet its working capital necessities.
The provide, initially scheduled to shut on 5 December 2025, has now been prolonged till 19 December 2025 to accommodate rising investor curiosity.
What you have to know
Ellah Lakes’ share worth has skilled important development this 12 months.
Following the opening of its public provide in November 2025, the inventory closed the month on a excessive, gaining 6.95% in November alone, regardless of the broader market struggling a N6.5 trillion loss throughout the identical interval.
Firstly of the 12 months, Ellah Lakes’ share worth was N3.16. Since then, the corporate’s inventory has surged by 333%, making it the fifth-best performer on the NGX by way of year-to-date efficiency.
Over the previous 4 weeks, the inventory has gained 16%, rating it sixth on the alternate throughout that interval.
Consequently, Ellah Lakes’ market capitalization has grown to N52.8 billion, considerably outpacing its internet property of N22.357 billion.
Wanting forward, with the N235 billion capital raised from the general public provide and the acquisition of Agro-Allied Sources & Processing Nigeria Restricted (ARPN), Ellah Lakes is ready to increase its income base by greater than twentyfold.
- Moreover, its whole property are anticipated to extend to about N316 billion, with shareholders’ funds projected to rise to round N271 billion.
When it comes to future earnings, ARPN is predicted to contribute considerably to Ellah Lakes’ development.
- By 2026, ARPN is forecast to ship N2.25 billion in tax-adjusted EBIT and N2.74 billion in free money movement.
- Income from ARPN is projected to succeed in N76 billion by 2030.
