Ellah Lakes Extends N235bn Public Offer as Investor Demand Surges

Ellah Lakes Plc has announced an extension of its ongoing N235 billion public offer, following approval from the Securities and Exchange Commission (SEC), providing additional time for investors to participate in one of Nigeria’s largest agribusiness equity offerings.

The company is offering 18.8 billion ordinary shares of 50 kobo each at N12.50 per share. Initially set to close on December 5, 2025, the subscription window has now been extended to December 19, 2025, reflecting rising investor interest and confidence in the company’s long-term growth strategy.

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The proceeds from the offer will be used to accelerate Ellah Lakes’ operational scale, enhance food security, and deliver sustainable value to stakeholders. According to a statement released on the Nigerian Exchange, the extension is aimed at broadening participation and accommodating growing investor demand, while highlighting the company’s commitment to advancing Nigeria’s agricultural transformation.

Chief Executive Officer, Mr Chuka Mordi, described the offer as a pivotal step in the company’s evolution. “At an offer price of N12.50 per share, this raise reflects the intrinsic value of our scaled, integrated platform. We are inviting investors to participate in a clear growth trajectory built on over 30,000 hectares of resilient, diversified assets and strong processing capacity,” he said.

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Mr Mordi added that the N235 billion equity expansion represents a transition from foundation-building to full-scale market expansion, aimed at driving sustainable profitability while supporting Nigeria’s food security agenda.

Ellah Lakes, established in 1980 as a fish farming enterprise, repositioned itself as a vertically integrated agro-industrial player following the 2019 acquisition of Telluria Limited. Today, the company focuses on crop cultivation, processing, and sustainable value creation, emerging as a leading force in Nigeria’s agribusiness sector.

Investors are encouraged to complete applications via the NGX Portal or submit commitment forms through licensed stockbrokers before the new closing date.