Sam Ndata, Doyen, Ivie Dima-Okoji, Team Lead, Primary Market NGX, Reuben Ossai, MD, The Initiates Plc, Jude Chiemeka, CEO, Nigerian Exchange Limited (NGX) , Joe Anosikeh, Chairman The Initiates Plc, Olaide Odejobi, Company Secretary The Initiates Plc, Kennedy Ichibor, Acting Group ED, Anchoria Capital Group, Joseph Ebinum – Non Executive Director The Initiates Plc at the Fact Behind the Combined Offer held at the NGX
The Initiates Plc (TIP), the only listed and leading Nigerian environmental and waste management solutions company, recently held the official signing ceremony and Facts Behind the Combined Offer.
The Combined Offer comprises a Rights Issue of 177,996,310 ordinary shares of N0.50 each at a Right Price of N7 per share, and a Public Offer of 932,022,138 ordinary shares of N0.50 each at N9.50 per share.
The events marked a key milestone in the company’s capital-raising journey, aimed at supporting its strategic expansion and strengthening its operational capacity in the environmental services industry in line with its plan to consolidate in the hazardous waste and goal of entering the public waste.
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Speaking at the Fact Behind the Combined Offer, Jude Chiemeka, Chief Executive Officer of Nigerian Exchange Limited (NGX) , “What we have seen today. I mean all of that was clearly articulated, they have a very strong performance metrics and have done very well as a growth board listed company.
“From what we’ve heard today, they do have aspiration to move on to the main board of the exchange which stands at N4 billion. We’re really delighted that they came 9 years ago and now they are coming back to utilize the market. It just testifies to the strength of our market”
Whilst speaking during both events, Joe Anosikeh, Board Chairman of The Initiates Plc expressed optimism about the combined offer, noting that it represents a major step in the company’s long-term vision of scaling up operations, driving innovation, and delivering greater value to shareholders.
He said: “Today’s signing is more than a financial milestone — it reflects our confidence in the Nigerian capital market and our commitment to sustainable value creation.
“The proceeds from this offer will enable us to deepen our service capacity, expand our reach, and continue to uphold the highest standards in environmental and industrial management”.
In his remarks, Reuben Mustapha Ossai, Managing Director, The Initiates highlighted that the hybrid offer aligns with TIP’s growth trajectory and will enable the company to consolidate its position as a leader in sustainable waste management and industrial solutions across Nigeria and West Africa.
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“This combined offer is a strategic initiative that reinforces our growth agenda. We are focused on expanding our asset base, investing in technology, and enhancing shareholder value. We appreciate the support of our partners and regulators as we move into this next phase of our journey,” he said.
He added that the Initiates will continue to reward its shareholders for their trust and unflinching support.
The Initiates ended Q3 2025 as one of the top 3 most performing stocks on the NGX with capital appreciation in excess of 480 percent.
Iheanyi Nwachukwu
Iheanyi Nwachukwu, is a creative content writer with over 18 years journalism experience writing on banking, finance and capital markets. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos.
Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA).
