Zichis Agro-Allied Industries Plc will seek shareholders’ approval to raise additional capital through equity and debt financing at its first Annual General Meeting (AGM) after listing, as the company targets expansion across its core business segments.
This was disclosed in a statement released by Zichis Agro-Allied Industries Plc on Wednesday, April 29, 2026, and made available to Nairametrics.
The proposed capital raise, which is subject to regulatory approvals from the Securities and Exchange Commission and the Nigerian Exchange Limited, will be considered as part of special business at the AGM scheduled for April 30.
The company noted that deliberations at the AGM will center on its expansion strategy, funding plans, and operational outlook following its recent listing on the NGX Growth Board.
The discussions are expected to shape the company’s next growth phase across its agribusiness value chain.
The company emphasized that the capital raise aligns with its long-term growth strategy and ongoing efforts to scale production capacity and operational efficiency.
Zichis has continued to expand its operational footprint, particularly in feed production and livestock farming, as it positions itself for sustained growth. The company recently increased its feed milling capacity from 2 tonnes per hour to 5 tonnes per hour to boost efficiency and output.
These operational expansions are expected to be supported by the planned capital raise, reinforcing the company’s scale and competitiveness in Nigeria’s agribusiness sector.
The upcoming AGM marks the company’s first since listing by introduction of 600 million shares at N1.81 per unit on the NGX Growth Board on January 20, 2026. Since then, the company has recorded significant financial and market milestones.
The company’s audited results for the year ended December 31, 2025, which were earlier released to the NGX supported the dividend payout of 20 kobo per share alongside a bonus issue of one share for every share held.
Nairametrics had reported that the company planned to float an initial public offer (IPO) of about 800 million units, subject to regulatory approval and shareholders’ endorsement at the forthcoming annual general meeting by the end of April.
The planned capital raise and IPO signal the company’s ambition to strengthen its financial base while sustaining investor interest in its stock.
