Presco Plc has opened a N236.67 billion Rights Issue, inviting existing shareholders to increase their equity in the company as it pursues expansion and acquisitions in Nigeria’s agro-industrial sector. The offer, which opened on November 12, 2025, will close on December 2, 2025, according to a statement from the company secretary, Frederick Ichekwai. The Rights Issue covers 166.67 million ordinary shares at N1,420 per share, offered on the basis of one new share for every six held as of October 13, 2025. Both the Nigerian Exchange Limited (NGX) and the Securities and Exchange Commission (SEC) have approved the offer.
Presco explained that the fresh capital injection aligns with its long-term strategy to strengthen its balance sheet and expand operations across its oil palm plantations and processing facilities. The company said proceeds from the Rights Issue will be deployed toward Greenfield and Brownfield acquisitions—some nearing completion—as well as ongoing expansion projects aimed at boosting local production capacity and operational efficiency.
According to the company, the initiative reflects its commitment to sustainable growth and shareholder value creation, while consolidating its leadership in Nigeria’s edible oil and agro-industrial market. “The capital raised will fund projects designed to enhance production capacity and reinforce Presco’s leadership in the edible oil industry,” the statement noted. Industry analysts have described the offer as a strategic move that positions Presco for long-term competitiveness amid rising demand for locally produced vegetable oils.
Shareholders can participate in the offer through the NGX trading floor or digitally via the NGX Invest platform, while physical submissions can be made to First Registrars & Investor Services Limited, the appointed offer registrars. Presco emphasized that the rights are tradable during the offer period, providing flexibility for investors who wish to buy or sell their entitlements. Shareholders are encouraged to liaise with their stockbrokers or receiving agents for detailed participation procedures.
Presco highlighted that the Rights Issue is part of its broader mission to empower shareholders and enhance capital market participation. By offering investors a chance to maintain their ownership stake, the company aims to strengthen investor confidence and ensure they benefit from its future growth. With a N139.7 billion profit in the first nine months of 2025 and a N10 interim dividend, Presco continues to play a key role in advancing Nigeria’s non-oil export diversification and food security goals through sustainable agriculture and innovation.
source: nairametrics