Zichis Agro-Allied Industries has announced the relocation of its corporate head office to Mende, Maryland in Lagos as part of efforts to strengthen its market presence and position the company for future growth.
The company disclosed this in a filing with the Nigerian Exchange (NGX), signed by its Head of Corporate Communications, Ozo-Okeke Esther Chinasa.
According to the company, the head office was moved from Ibeju-Ilese in Ogun State to Lagos to improve corporate visibility and provide a stronger strategic base for expansion.
The relocation comes months after the company listed 600 million shares on the NGX Growth Board on January 20, 2026. Since the listing, the stock has recorded a surge of more than 600 percent, reflecting strong investor interest.
Zichis Agro-Allied said the move represents a strategic shift in its operations as it prepares for the next phase of growth.
The new location, the company said, places it within a larger commercial hub, allowing closer engagement with investors, partners, and other stakeholders in a more dynamic business environment.
The company also disclosed plans to launch an Initial Public Offering of 800 million additional shares to expand operations and improve stock liquidity on the Nigerian Exchange, where it trades under the ticker ZICHIS.
The share offer, expected after the company’s Annual General Meeting scheduled for April 30, will increase the firm’s total share capital from 1.2 billion to 2 billion shares.
Chief Executive Officer Anthonia Chinyere Akabusi said the current share base remains limited relative to Nigeria’s large population. She added that the relocation and proposed IPO are expected to strengthen the company’s market presence and improve trading liquidity.
Since listing its 600 million shares at N1.81 per share in January 2026, the stock has experienced strong market activity. Trading volumes have surpassed 600 million units alongside significant price gains.
Following a sharp rally in February, the Nigerian Exchange suspended trading in the stock on February 23, 2026, when the price reached N8.70 per share pending a review.
Trading later resumed on March 23, 2026, with the share price climbing to N13, highlighting continued investor demand.
The company currently has total assets valued at N1.2 billion, with property, plant, and equipment accounting for the largest share at N741.3 million.
After resuming trading and reaching a peak of N15.15 per share on March 30, the stock has moderated to N13 as of mid-market trading at 2:00 p.m. on April 9, 2026.
Zichis Agro-Allied said the planned issuance of 800 million additional shares is expected to further increase liquidity on the Nigerian Exchange and make it easier for investors to enter and exit positions.
