Multi-Trex Expands Share Capital With N3.25bn

Multi-Trex Integrated Foods Plc has increased its share capital following the successful listing of 1.72 billion ordinary shares on the Daily Official List of the Nigerian Exchange Limited (NGX), further positioning itself for business expansion.

The shares, listed on Wednesday, April 30, 2025, were issued at N1.89 per share through a private placement exercise targeted at strategic investors. This brings the company’s total issued and fully paid-up shares from 4.51 billion to 6.23 billion.

The NGX Weekly Report states that the capital raise is aimed at strengthening Multi-Trex’s balance sheet and boosting operational capacity in its cocoa processing business. The company produces intermediate cocoa products such as cocoa butter and cocoa cake.

This development marks the second private placement listing for the company in recent times. In 2024, NGX approved the listing of 788.6 million shares at N3.17 per share, also through private placement.

Capital Asset Limited and Signet Investments and Securities Limited served as stockbrokers for the latest transaction, while SFS Financial Services, Capital Assets Limited, and Goldbanc Management Associates Limited acted as issuing houses and financial advisers.

The NGX said the listing highlight its commitment to market liquidity and expanding opportunities for investor participation. Market analysts view the move as strategic, enhancing Multi-Trex’s visibility within the capital market and attracting long-term investors.

However, it is worth noting that Multi-Trex remains on the Delisting Watchlist (DWL) of the Exchange due to non-compliance in filing audited financial statements, as flagged by NGX Regulation Limited (NGX RegCo).