Ellah Lakes Targets Dividend Payout by 2026 with N235bn Stock Offering
Ellah Lakes Plc, an agro-industrial enterprise, aims to pay dividends by 2026 following a successful N235 billion stock offering on the Nigerian Exchange. Led by CEO Chuka Mordi, the company issued 18.8 billion ordinary shares at N12.50 each.
The offering, managed by Rand Merchant Bank, is set to close on December 5, 2025. Ellah Lakes plans to use the capital to expand its operations, enhance market presence, and achieve sustainable profitability.
Deputy Managing Director Paul Farrer highlighted the strategic deployment of funds for operational improvements and asset upgrades.
Plus234Feed summary based on reporting from This Day. Read the original report below.
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