Zichis Agro Allied to raise N50bn additional capital

Zichis Agro Allied Industries Plc has notified the Nigerian Exchange and the investing public of its plan to raise additional capital of N50 billion through Debt Finance or Equity raising by Public Offers, Rights Issue or a combination of both.

In a notice about the upcoming Annual General Meeting (AGM) of the company, scheduled to hold on April 30, 2026 in Ogun State, part of the special resolution to be approved is stated thus:

“That the Company be and is hereby authorized to raise N50 billion additional capital through Debt Finance or Equity raising by Public Offers, Rights Issue or a combination of both and by the issue of debt instruments in such tranches, series, or proportions and at such periods or dates, coupon or interest rates and such other terms and conditions as may be determined by the Board of Directors subject to obtaining the approvals of the relevant regulatory authorities”.

That the Company is hereby authorized to issue 400 million ordinary shares through ‘Special Placing’ at a market determined price to pay for the land acquisition and other associated costs thereto.

That the Company is hereby authorized to increase its share capital by up to N1billion divided into 2,000,000,000 units of ordinary shares of 50 kobo each.

That the Company is hereby authorized to issue up to N5Billion Debt Finance by Issuance of Commercial Paper at the rates and terms to be negotiated by the Directors.