Zichis Agro Joins Nigerian Exchange, Shares Surge on First Day Trading

Zichis Agro Allied Industries Plc has formally entered the Nigerian equities market with the listing of 600 million ordinary shares by introduction on the Growth Board of the Nigerian Exchange.

The listing, which took effect on January 20, 2026, followed approval by the Securities and Exchange Commission and admission by the Exchange under the leadership of its Chief Executive Officer, Jude Chiemeka. Priced at ₦1.81 per share, the transaction values the company at approximately ₦1.19 billion, with Qualinvest Capital Limited serving as Lead Issuing House and Anchoria Investment and Securities Limited as Lead Stockbroker.

Trading under the ticker ZICHIS, the stock recorded 69.6 million shares exchanged before the closing gong, with the price rising to ₦1.99 per share, making it one of the day’s most active equities. The company explained that listing its shares would improve liquidity for investors while enabling it to raise funds from both local and international markets to support future growth.

Financial results for the nine months ended September 30, 2025, showed revenue of ₦464.1 million, representing a 122 percent year‑on‑year increase from ₦209.2 million in the same period of 2024. Egg sales contributed the largest share at ₦176.2 million, followed by palm oil products at ₦102.3 million, feed mill products at ₦88.6 million, chicken sales at ₦71.2 million, and fish sales at ₦25.6 million. Despite a 67.35 percent rise in the cost of sales to ₦212.8 million, the company posted a gross profit of ₦251.3 million. Administrative expenses rose by 30 percent to ₦50.3 million, driven mainly by depreciation and staff‑related costs. Profit before tax surged to ₦201.04 million, up 364 percent year‑on‑year, while earnings per share climbed to ₦0.28 from ₦0.06.

Zichis Agro was incorporated on April 12, 2012, as Zichis Farms Limited before transitioning into a public company in May 2024 and adopting its current name. In July 2025, the SEC approved the company for public trading, paving the way for its admission to the NGX Growth Board. The agro‑industrial firm operates across oil palm plantations, palm oil and kernel processing, vegetable oil refining, poultry and fish farming, animal feed production, maize cultivation, and cash crop farming. As of September 2025, total assets stood at ₦1.06 billion, up 22 percent, while total equity increased to ₦1.01 billion from ₦851.5 million in 2024, with revenue reserves at ₦233.9 million. Current liabilities rose to ₦1.06 billion from ₦871.2 million in the previous year.

The board of directors is chaired by Hezekiah Chinyere Oshaba, with Antonia Chinyere Akabusi serving as Managing Director and Chief Executive Officer. The listing marks a significant milestone for Zichis Agro as it seeks to leverage capital market access to drive expansion and consolidate its position in Nigeria’s agro‑industrial sector.