Ellah Lakes unveils N235bn offer for subscription at NGX

Nigeria’s pioneering integrated agro-industrial enterprise, Ellah Lakes Plc, has launched a N235 billion offer for subscription on the floor of the Nigerian Exchange Limited (NGX).

The offer was unveiled during a Facts Behind the Offer presentation at the NGX in Lagos on Monday, November 10, 2025.

Ellah Lakes is raising N235 billion through the issuance of 18.8 billion ordinary shares of 50 kobo each at N12.50 per share.

The offer, led by Rand Merchant Bank (RMB) as Lead Issuing House, opened on Monday, and will close on Friday, December 5, 2025.

Speaking at the event, the Chief Executive Officer of NGX, Jude Chiemeka, commended Ellah Lakes for using the Nigerian capital market as a platform for growth.

Chiemeka said the N235 billion equity raise underscored the strength and resilience of Nigeria’s capital market as a driver of corporate expansion.

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He stated: “At NGX, we are pleased to see a leading indigenous agribusiness like Ellah Lakes harness the market to scale its operations and create greater value.

“This offer provides investors with an opportunity to participate in the country’s agro-industrial growth and signals renewed confidence in the Exchange.”

The Chief Executive Officer of Ellah Lakes Plc, Chuka Mordi, described the offer as a pivotal step in the company’s evolution.

Mordi said: “This offer for subscription is about unlocking the next chapter of Ellah Lakes’ growth story.

“At N12.50 per share, this raise reflects the intrinsic value of our integrated agricultural platform.

“The N235 billion equity expansion marks our shift from foundation building to full-scale market expansion, advancing Nigeria’s food security agenda.”

The Star