Ellah Lakes Receives SEC Approval for N235 Billion Public Offer to Fund Agro Acquisition
Ellah Lakes Plc has obtained approval from the Securities and Exchange Commission (SEC) for a N235 billion public offer scheduled to open on November 10. The company's Managing Director, Chuka Mordi, revealed plans to issue 18 billion new shares as part of the offer to fund the acquisition of Agro-Allied Resources Processing Nigeria.
Ellah Lakes also intends to acquire a new 20-ton per hour mill at an ARPN facility in Edo State to complement its existing 6-ton per hour mill at the oil palm plantation in Iguelaba, Edo State. This move aims to enhance the company's operations and expansion in the agricultural sector.
Plus234Feed summary based on reporting from Business Day. Read the original report below.
Read full article
Continue on Business Day
Get the week in one email
Top stories, NPFL results, the naira — every Friday morning. Free, one email a week.
Related Stories
Ellah Lakes Expands Operations with Acquisition and N235bn Public Offer
Ellah Lakes Targets Dividend Payout by 2026 with N235bn Stock Offering
Ellah Lakes Surges After Tolaram's ARPN Acquisition, Plans N200 Billion Raise
Access Holdings PLC to Raise N40 Billion in Private Placement Approval
Ellah Lakes Launches N235bn Public Offer to Boost Agro-Industrial Expansion
Ellah Lakes Extends N235bn Public Offer Deadline to Boost Growth
Get Plus234Feed on messaging apps
Same headlines, delivered where you already scroll.
