Presco Plc has officially commenced its Rights Issue of 166,666,667 ordinary shares of ₦0.50 each at ₦1,420 per share, offering existing shareholders one new share for every six ordinary shares held as of October 13, 2025.
The Rights Issue, which opened today, Wednesday, November 12, 2025, will remain open until Tuesday, December 2, 2025, according to a corporate disclosure filed with the Nigerian Exchange Limited (NGX).
Presco, a leading player in Nigeria’s integrated oil palm industry, said the capital raise is part of its long-term strategic growth plan focused on industrial expansion, Greenfield and Brownfield acquisitions, and capacity enhancement projects already in advanced stages of contractual conclusion.
The Rights Circular, which provides full details of the offer, is being distributed by First Registrars & Investor Services Limited, the Registrars to the Offer, and can also be accessed via the company’s official website at www.presco-plc.com.
The company stated that the Rights are tradable on the floor of the Nigerian Exchange throughout the acceptance period, allowing shareholders to either exercise their rights or trade them on the secondary market.
Eligible shareholders are encouraged to participate electronically through the NGX Invest platform (invest.ngxgroup.com) or manually by completing the participation form included in the Rights Circular.
Completed forms, along with proof of payment for the subscribed shares, must be submitted to any of the receiving agents or issuing houses listed in the offer document on or before the closing date.
According to Presco, the proceeds from the Rights Issue will be strategically deployed to finance its ongoing expansion of processing facilities, support acquisitions aimed at vertical integration, and strengthen its position as a dominant force in the West African edible oil market.
Company Secretary, Frederick Ichekwai, reaffirmed that the initiative offers shareholders an opportunity to deepen their equity stake and align with the company’s long-term value creation agenda.
“This Rights Issue provides our shareholders the opportunity to increase their equity holdings and support Presco’s continued drive toward expansion, sustainability, and regional leadership,” Ichekwai said.
Presco Plc, known for its vertically integrated oil palm operations spanning cultivation, processing, and refining, continues to lead Nigeria’s agribusiness sector in both profitability and innovation.
The new capital injection is expected to consolidate its balance sheet and strengthen its investment capacity as competition intensifies in the sub-Saharan edible oil market.