Nigeria’s Latest Listed Firm Zichis Agro Gains 32% in First Trading Week
Zichis Agro Allied Industries, which was listed on the Nigerian Exchange Limited (NGX) on Tuesday, saw its share price rise
Zichis Agro Allied Industries, which was listed on the Nigerian Exchange Limited (NGX) on Tuesday, saw its share price rise almost 32 percent in the first trading week.
Its share price surged to N2.62 apiece on Friday from N1.99 on the listing day, with its market capitalisation rising to N1.52 billion from N1.19 billion.
The company’s 600 million ordinary shares were listed at N1.81 per share on the Standard Segment of the Growth Board of NGX.
Zichis Agro is a fully integrated agro-industrial company with oil palm plantations, palm oil mill, palm kernel, vegetable oil refining and processing, poultry and fish farms animal feed milling, animal husbandry, maize and offer cash crop farming.
It started business in 2020 with the planting of its oil palm plantation on over 18 acres of land at Ijebu Itele, near Ijebu Ode, Ogun State. It currently has 61 acres of oil palm plantation, 30 of which started fruiting in 2024 while the rest are expected to mature in 2026, according to the company. The company is planning to acquire and expand the oil palm plantation to 1,000 acres by 2030.
