The Nigerian Exchange Limited (NGX) has lifted the suspension of trading in the shares of Zichis Agro-Allied Industries Plc.
This followed a month-long investigation by NGX Regulation Limited (NGX RegCo) into the stock’s extraordinary price movement.
The price surged about 772.36 percent within weeks of its January listing.
The stock, which listed on the Growth Board at N1.81 on January 20, hit N17.36 in exactly one month.
The rapid appreciation raised concerns regarding a potential liquidity trap for retail investors and prompted the regulator to freeze trading to protect market transparency.
Upon resumption, the share price was adjusted to N8.58, down from its pre-suspension close of N17.36.
In early trading on Monday, the stock showed immediate buy interest, gaining roughly 9.91 percent as at 1 pm to trade around N9.43 per share.
NGX in its notice of the lifting signed by Godstime Iwenekhai, Head, Issuer Regulation Department, said, “Trading Licence Holders and the investing public are hereby informed that NGX Regulation Limited has concluded its investigation into the trading activities in the Company’s shares and has implemented corrective measures to safeguard market integrity in line with its mandate to promote a fair, orderly and efficient market”.
“Accordingly, the suspension placed on trading in the shares of Zichis Agro-Allied Industries Plc has been lifted, effective Monday March 23, 2026,” NGX noted.