Ellah Lakes Plc, Nigeria’s pioneering integrated agro-industrial company, has officially launched its N235 billion Offer for Subscription, marking a significant step in its journey toward enhanced growth and capital expansion. This announcement follows a comprehensive “Facts Behind the Offer” presentation at the Nigerian Exchange Limited (NGX), where the company detailed its strategic plans for the future. The funds will be utilized for critical acquisitions and the upgrading of its processing facilities, propelling the company into its next phase of expansion and value creation.

In this offering, Ellah Lakes will issue 18,800,000,000 ordinary shares, priced at N12.50 each, with a target to raise N235 billion. The application process opened on Monday, 10 November 2025, and will close on Friday, 5 December 2025. Rand Merchant Bank (RMB) has been appointed as the Lead Issuing House for this landmark equity offering, signaling the company’s ambition for significant growth.

In his statement, Mr. Chuka Mordi, Chief Executive Officer of Ellah Lakes, explained the strategic importance of the offer:
“This Offer for Subscription is more than just a fundraising event; it is the key to unlocking the next chapter of Ellah Lakes’ growth. At N12.50 per share, the offer price reflects the true value of our extensive, integrated platform. With over 30,000 hectares of diversified assets and robust processing capacity, we are positioned for continued growth. This N235 billion equity raise is a transformative step that will shift Ellah Lakes from foundational growth to a full-scale market presence, driving sustainable profitability, providing strong returns on investment, and contributing to Nigeria’s food security and rural prosperity.”

Mr. Paul Farrer, Deputy Managing Director, emphasized the strategic deployment of the raised capital:
“Every naira from this raise will be strategically deployed to integrate the newly acquired Agro-Allied Resources & Processing Nigeria Limited (ARPN) assets and upgrade our Crude Palm Oil (CPO) mills and cassava processing facilities. This equity infusion is designed to accelerate operational efficiency, expand scale, and maximize the value of every hectare of land. It is a clear path to enhanced revenue generation and will immediately benefit all stakeholders by delivering operational and financial scale.”

Mr. Jude Chiemeka, CEO of Nigerian Exchange Limited (NGX), praised Ellah Lakes for its strategic use of the capital markets, noting:
“The N235 billion equity raise is a testament to the strength and resilience of Nigeria’s capital markets, which continue to serve as a crucial enabler of corporate growth. At NGX, we are proud to see a leading indigenous agribusiness like Ellah Lakes utilize this platform to scale its operations, create value, and contribute to the agricultural sector’s development. This offer is not only an opportunity for investors to be part of Nigeria’s agro-industrial growth, but also a strong signal of renewed confidence in the Exchange as a gateway for transformative capital formation.”

This Offer for Subscription provides a rare opportunity for both institutional and retail investors to engage directly with one of Nigeria’s most ambitious agro-industrial ventures, as Ellah Lakes seeks to expand its vertically integrated operations and strengthen its leadership in Nigeria and West Africa’s agricultural value chain.