NGX Regulation Limited (NGX RegCo), the independent regulatory arm of Nigerian Exchange Group, yesterday issued an advisory to the investing public in response to notable price movements observed in the shares of some listed companies over recent trading sessions.
Specifically, the notice by the regulator is in the backdrop of suspension placed on trading in the shares of Zichis Agro-Allied Industries Plc pending the outcome of a regulatory investigation into recent trading activities.
A market bulletin issued to dealing members stated that Exchange actions followed on what is described as extraordinary price movements in which the stock price of Zichis Agro-Allied recorded extra-ordinary 772per cent to close at N17.36 per share on Friday, February 20, up from its January 20 listing by introduction price of N1.81per share.
The Agro-Allied company listed 600 million ordinary shares by introduction on the NGX Growth Board on 20 January 2026.
The shares were priced at N1.81 per share at listing, valuing the company at approximately N1.19 billion. Qualinvest Capital Limited acted as Lead Issuing House, while Anchoria Investment and Securities Limited served as Lead Stockbroker.
