Zichis Agro-Allied Industries Plc, a recently listed company on the Nigerian Exchange (NGX), has announced plans to launch an initial public offering (IPO) of approximately 800 million shares to expand operations and improve market liquidity.
The company’s Managing Director and CEO, Anthonia Akabosi, disclosed the development in an interview with Nairametrics, stating that the IPO will follow the company’s upcoming Annual General Meeting (AGM) scheduled for April 30, 2026. The offering will increase the company’s share capital from 1.2 billion to 2 billion shares.
“The fact is that we have limited number of shares; 1.2 billion is too small for over 100 million Nigerians. So, to increase it, we need to do IPO,” Mrs. Akabosi said. She emphasized that the IPO is carefully structured to maintain shareholder value while addressing the persistent scarcity of Zichis shares in the market.
The CEO also highlighted that the IPO’s unit price will be market-determined and anchored by stockbrokers, with the company deliberately limiting the offer size to avoid diluting value and ensure sustainable returns.
Zichis’ stock has shown strong market interest since its listing, closing at N14.14 per share on Thursday, April 2, 2026, despite recent regulatory scrutiny. Analysts suggest that while the additional 800 million shares may ease scarcity, supply-demand imbalances may persist.
The company released audited financial results for the year ended December 31, 2025, showing remarkable growth. Revenue rose 133.79% to N675.6 million, profit before tax increased to N364.21 million, and profit after tax climbed to N326 million. Gross profit reached N462.8 million, and total assets expanded to N1.22 billion, with property, plant, and equipment accounting for N741.3 million.
Zichis also paid a dividend of 20 kobo per share, up from 5 kobo the previous year, alongside a one-for-one bonus share issue subject to shareholder approval.
As the IPO approaches, investor attention will focus on its impact on liquidity, pricing, and overall confidence in one of NGX’s most remarkable recent listings, reflecting the company’s commitment to long-term value creation over short-term capital gains.
