Ellah Lakes to Raise N235 Billion for Agricultural Expansion
Ellah Lakes Plc, a pioneer integrated agro-industrial company in Nigeria, is set to raise N235 billion through an equity capital raise to fund strategic acquisitions, upgrade processes, and drive value creation. The company will issue 18.8 billion ordinary shares at a price of N12.50 per share.
The offer, led by Rand Merchant Bank, aims to support Ellah Lakes' transformation into a vertically integrated agro-industrial player. CEO Chuka Mordi highlights the significance of the offer in unlocking the company's growth potential.
Deputy MD Paul Farrer emphasizes the strategic value and clear trajectory for growth in Nigeria's agricultural sector.
Plus234Feed summary based on reporting from Business Day. Read the original report below.
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