Zichis Agro-Allied Industries Plc is set to seek shareholder approval to raise additional capital through a mix of equity and debt financing at its first Annual General Meeting following its listing.
In a statement released on April 29, 2026, the company disclosed that the proposed capital raise, subject to approvals from the Securities and Exchange Commission and Nigerian Exchange Limited, will form part of special business at its AGM scheduled for April 30.
The meeting will focus on the company’s expansion strategy, funding plans, and operational outlook after its recent debut on the NGX Growth Board, with decisions expected to shape its next phase of growth.
“Shareholders will consider authorising the company to raise additional funds through public offers, rights issues, debt instruments, or a combination of both, subject to regulatory approvals,” the company stated.
Zichis said the planned fundraising aligns with its long-term strategy to scale production capacity and improve operational efficiency across its agribusiness value chain, including poultry, feed milling, aquaculture, and oil palm cultivation.
The company has continued to expand its operational footprint, recently increasing its feed milling capacity from two tonnes per hour to five tonnes per hour. Its poultry segment currently includes over 30,000 egg-laying birds, alongside brooding operations with more than 20,000 day-old chicks and growers.
In aquaculture, the company operates over 22 earthen ponds, providing a diversified revenue base and supporting its growth ambitions.
To further strengthen its financial position, the company is also planning an initial public offer of approximately 800 million units, subject to regulatory clearance and shareholder approval.
Market operators note that the stock has experienced strong demand relative to supply, even after a bonus share distribution earlier in March. Analysts believe the planned IPO could improve liquidity in the stock while maintaining its valuation on the exchange.
The proposed capital raise and IPO underscore Zichis Agro-Allied’s ambition to deepen its market presence, enhance competitiveness, and sustain investor interest as it scales operations within Nigeria’s agribusiness sector.
