{"id":13336,"date":"2026-11-09T14:31:43","date_gmt":"2026-11-09T14:31:43","guid":{"rendered":"https:\/\/globalnigerianews.com\/index.php\/2026\/11\/09\/zichis-key-shareholder-sells-10-45-stake-to-futureview-asset-management\/"},"modified":"2026-11-09T14:31:43","modified_gmt":"2026-11-09T14:31:43","slug":"zichis-key-shareholder-sells-10-45-stake-to-futureview-asset-management","status":"publish","type":"post","link":"https:\/\/globalnigerianews.com\/index.php\/2026\/11\/09\/zichis-key-shareholder-sells-10-45-stake-to-futureview-asset-management\/","title":{"rendered":"Zichis key shareholder sells 10.45% stake to Futureview Asset Management"},"content":{"rendered":"<p>Futureview Asset Management Limited has acquired 126,967,213 ordinary shares of Zichis Agro-Allied Industries Plc from Chilla Entertainment Limited, becoming a substantial shareholder with a 10.45% stake in the company\u2019s issued share capital.<\/p>\n<p>The transaction was disclosed in a <a href=\"https:\/\/doclib.ngxgroup.com\/Financial_NewsDocs\/48372_ZICHIS_AGRO_ALLIED_INDUSTRIES_PLC-NOTIFICATION_OF_SUBSTANTIAL_SHAREHOLDINGS_CORPORATE_ACTIONS_NOVEMBER_2026.pdf\">notification filed by Zichis with the Nigerian Exchange (NGX) on Monday,<\/a> November 9, 2026, following its cFutureview Asset Management Limited has acquired 126,967,213 ordinary shares of Zichis Agro-Allied Industries Plc from Chilla Entertainment Limited, becoming a substantial shareholder with a 10.45% stake in the company\u2019s issued share capital.ompletion on November 3.<\/p>\n<p>The acquisition involved existing shares rather than a fresh issuance, meaning the transaction did not increase the company\u2019s issued share capital.<\/p>\n<h4><strong>Futureview acquires major Zichis stake:<\/strong><\/h4>\n<p>The share transfer represents a significant ownership change involving Chilla Entertainment Limited, one of Zichis Agro-Allied Industries\u2019 core promoters.<\/p>\n<p>Nairametrics previously reported that Chilla and Winners Investment &amp; Trust Limited had injected N2 billion in non-equity capital into the company.<\/p>\n<ul>\n<li>Futureview Asset Management acquired 126,967,213 ordinary shares, representing 10.45% of Zichis\u2019 issued share capital.<\/li>\n<li>At the November 6 closing price of N17 per share, the acquired block had an indicative market value of approximately N2.16 billion.<\/li>\n<li>Zichis closed trading on November 6 at N17, gaining 2.9% from the previous price of N16.52.<\/li>\n<li>The stock has appreciated by approximately 754% from its N1.99 closing price on its January 20 listing day, ranking second on the NGX by year-to-date performance.<\/li>\n<li>The NGX notification did not disclose the consideration paid by Futureview, Chilla\u2019s remaining shareholding or the reason for the transaction.<\/li>\n<li>Zichis said it remained committed to transparency, timely disclosures and compliance with NGX rules and the Companies and Allied Matters Act, 2020.<\/li>\n<li>With approximately 1.2 billion shares outstanding, the company\u2019s market capitalisation stood at about N20.4 billion at the November 6 closing price.<\/li>\n<\/ul>\n<p>Zichis also reported a free float of 379.11 million shares, representing 31.59% of its issued share capital, which it said satisfied NGX Growth Board requirements.<\/p>\n<h4><strong>Zichis profit rises 179%:<\/strong><\/h4>\n<p>The ownership change follows a period of strong financial performance for Zichis Agro-Allied Industries, with significant increases in revenue and profitability during the first nine months of 2026.<\/p>\n<p>Nairametrics previously reported that the <a href=\"https:\/\/nairametrics.com\/2026\/10\/29\/zichis-9m-2026-pre-tax-profit-jumps-179-to-n561-32-million-as-revenue-hits-n1-22-billion\/\">company\u2019s pre-tax profit increased by 179.21% to N561.32 million<\/a> for the period ended September 30, 2026.<\/p>\n<ul>\n<li>Revenue rose by 162.63% to N1.22 billion during the nine-month period.<\/li>\n<li>Total assets increased by 719.36% to N8.71 billion.<\/li>\n<li>The company\u2019s reported assets included approximately N5 billion in deposits for shares, classified as a non-current liability.<\/li>\n<li>The November 3 transaction involved only the transfer of shares already in issue.<\/li>\n<\/ul>\n<p>Futureview\u2019s 10.45% holding therefore reflects the company\u2019s disclosed ownership position following the transaction, subject to any subsequent changes in issued share capital or shareholdings.<\/p>\n<h4><strong>Zichis expands into oil palm:<\/strong><\/h4>\n<p>Zichis Agro-Allied Industries listed by introduction on the NGX Growth Board on January 20, 2026, before recording substantial share-price appreciation during its first months of trading.<\/p>\n<p>On October 27, <a href=\"https:\/\/nairametrics.com\/2026\/10\/27\/zichis-to-acquire-221-hectare-oil-palm-plantation-from-amandel\/\">Nairametrics reported that Zichis had begun acquiring a 221-hectare oil palm plantation<\/a> from Amandel Nigeria Limited.<\/p>\n<ul>\n<li>The company appointed Futureview Financial Services Limited as financial adviser for the proposed plantation acquisition.<\/li>\n<li>Shareholders approved plans in May to raise up to N50 billion through a combination of equity and debt financing.<\/li>\n<li>At its September 30 closing price of N19.90, Zichis valued its free-float shares at approximately N7.54 billion.<\/li>\n<li>The proposed plantation acquisition represents another development in the company\u2019s expansion plans, while the approved fundraising provides a framework for potential additional financing.<\/li>\n<li>For shareholders, the latest transaction introduces a new substantial investor without changing the number of shares currently in issue.<\/li>\n<\/ul>\n<p>Further developments will depend on subsequent ownership disclosures, the progress of Zichis\u2019 proposed acquisition and any implementation of its approved capital-raising plans.<\/p>\n<p>Source: <\/p>\n<div class=\"nSourse\">Nairametrics<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Futureview Asset Management Limited has acquired 126,967,213 ordinary shares of Zichis Agro-Allied Industries Plc from Chilla Entertainment Limited, becoming a substantial shareholder with a 10.45% stake in the company\u2019s issued&hellip; 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