Ellah Lakes lists 1.88 billion shares at NSE platform


Ellah Lakes Plc has listed a total of 1.88 billion ordinary shares on the floor the Nigerian Stock Exchange (NSE).

The company recently acquired 100 per cent equities holdings in the Telluria Limited.

Speaking in Lagos at Ellah Lakes facts behind the listing, Chief executive officer of NSE, Oscar Onyema said the listing has marked the beginning of a new era for the company post the previous shut down of its operations due to militant activities and vandalization of the company’s assets.

He said that the new management team has however successfully revived the company’s operations and turned around its listing status at the NSE.

Onyema commended the board and management for the ongoing efforts to restructure and diversify the company’s operations from fish farming to a more competitive business in oil palm cultivation and processing. He expressed optimism that this new business strategy would position the company as a major player in the Agriculture sector. Accordingly, he encouraged the company to consider leveraging on the NSE platform to raise capital to fund future business expansion.

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