Agroeknor Announces Oversubscription of Debut Commercial Paper Issuance

Agroeknor, a leading agribusiness and agro-processing company specializing in high-value agricultural exports, has successfully completed its debut commercial paper (CP) issuance, which was oversubscribed by 25%.

Strong Investor Confidence in Agroeknor’s Growth Strategy

The CP offering, part of Agroeknor’s strategy to diversify funding sources and expand its presence in Nigeria’s capital markets, attracted significant interest from institutional and high-net-worth investors. This oversubscription highlights strong market confidence in the company’s business model and long-term growth potential.

CEO Timi Oke on the Milestone

Timi Oke, CEO of Agroeknor, commented:

“We are thrilled by the positive reception of our first commercial paper issuance. The 25% oversubscription demonstrates strong market confidence in our business model, operational integrity, and mission to drive value across the agricultural value chain. This funding will accelerate our working capital needs and support expansion in local and international markets.”

Utilization of Proceeds

The proceeds will be used to:

• Finance export operations
• Increase production capacity
• Strengthen supply chains for key products like hibiscus, ginger, and sesame

The CP program was structured in partnership with UBA Capital and Udo Udoma & Belo Osagie.

About Agroeknor

Agroeknor is a Nigerian agribusiness company focused on the aggregation, processing, and export of high-value, non-oil agricultural commodities. Committed to sustainability and quality, the company collaborates with over 10,000 smallholder farmers and cooperatives to supply premium products to global markets.

Source: Nairametrics