Mater Dei College Ashaka Old Boys Association (MOBA)

Event

The Initiates PLC Strengthens Market Confidence with Official NGX Signing and Combined Offer Presentation

The Initiates PLC Strengthens Market Confidence with Official NGX Signing and Combined Offer Presentation

Participants at the event

The Initiates PLC Strengthens Market Confidence with Official NGX Signing and Combined Offer Presentation

In a landmark event that underscores its position as a trailblazer in Nigeria’s environmental and waste management industry, The Initiates PLC (TIP), the only listed company in the sector on the Nigerian Exchange (NGX), held its Official Signing Ceremony and Facts Behind the Combined Offer at the NGX.

The Combined Offer comprises a Rights Issue of 177,996,310 ordinary shares of ₦0.50 each at ₦7 per share, and a Public Offer of 932,022,138 ordinary shares of ₦0.50 each at ₦9.50 per share. This strategic financial move marks another milestone in TIP’s commitment to deepening investor confidence and expanding its operational capacity across Nigeria and the West African subregion.

Speaking at the Facts Behind the Combined Offer event, Mr. Jude Chiemeka, Chief Executive Officer of NGX Regulation, commended The Initiates PLC for its consistent performance and forward-looking strategies. According to him: “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 ₦4 billion. 

We’re really delighted that they came nine years ago and now they are coming back to utilize the market. It just testifies to the strength of our market.” In his remarks during both ceremonies, Mr. Joe Anosikeh, Board Chairman of The Initiates PLC, expressed optimism about the Combined Offer, describing it as a major step toward realizing the company’s long-term vision. “This Combined Offer represents a major step in our continuous journey of scaling up operations, driving innovation, and delivering greater value to our shareholders,” Anosikeh stated.

Arch. Reuben Mustapha Ossai

Arch. Reuben Mustapha Ossai

Also speaking at the event, Arch. Reuben Mustapha Ossai, Managing Director of The Initiates PLC, highlighted that the hybrid offer aligns perfectly with TIP’s growth trajectory and will enable the company to consolidate its leadership position in sustainable waste management and industrial solutions. “This initiative will empower us to expand our service capacity, invest in cutting-edge technologies, and reinforce our role as a trusted environmental solutions provider in Nigeria and beyond,” Ossai noted.

Arch. Ossai, a distinguished alumnus of Mater Dei College, Ashaka (Class of 1981), holds a Master of Science Degree in Architecture from the University of Nigeria, Nsukka, and a Master of Engineering Degree in Environmental Engineering from the University of Port Harcourt.

A respected professional, he is a member of several local and international professional bodies, embodying the spirit of excellence and innovation that defines The Initiates PLC. 
The NGX signing and presentation event reaffirmed TIP’s dedication to transparency, sustainability, and long-term value creation. As the only publicly listed company in Nigeria’s environmental and waste management sector, TIP continues to set the benchmark for corporate governance, innovation, and responsible growth.

With this Combined Offer, The Initiates PLC positions itself to further strengthen its capital base, expand its operations, and contribute significantly to environmental sustainability and industrial development across West Africa.


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