Presco Plc (Bloomberg: PRESCO:NL | Reuters: PRESCO.LG | NGX: PRESCO), Nigeria’s leading fully integrated edible oil business, is pleased to announce the launch of its ₦237 billion Rights Issue, following approvals from its Shareholders, Regulatory Authorities and the Nigerian Exchange Limited (NGX).
Under the terms of the Rights Issue, 166,666,667 ordinary shares of 50 kobo each will be offered to existing shareholders at ₦1,420 per share, on the basis of one (1) new share for every six (6) existing ordinary shares held as at the qualifying date.
|
|
This capital raise, which was approved by shareholders at the Annual General Meeting held on 19 August 2025 and subsequently cleared by the Securities and Exchange Commission (SEC) and the NGX, represents a strategic milestone in Presco’s long-term growth plan.
The proceeds of the Rights Issue will be directed towards Greenfield and Brownfield acquisitions, some of which are already in their final contractual stages, as well as industrial expansion projects designed to enhance production capacity and reinforce the Company’s leadership in the region’s edible oil industry.
|
|
|
|---|
Commenting on the Rights Issue, Reji George, Managing Director of Presco Plc, stated:
“This Rights Issue is a defining moment in Presco’s journey of growth and transformation. Over the years, we have built a strong foundation through disciplined operations and strategic investments. The additional capital will enable us to scale our footprint, invest in high-impact expansion projects and drive long-term value creation for our shareholders, employees and host communities.”
Our strategy remains clear—to deepen our position as a leading player in the oil palm industry by investing in sustainable growth initiatives that enhance efficiency, resilience, and profitability. This Rights Issue provides the momentum to accelerate that vision.”
Stay Ahead with Premium Times
Follow us on Google News and never miss breaking stories, investigations, and in-depth reporting.
Add as a preferred source on Google
Building on this momentum, Presco reaffirms its confidence in Nigeria’s agricultural potential and its commitment to advancing industrial-scale agribusiness that supports national food security, employment, and value addition.
About Presco Plc
Presco Plc is a fully integrated edible oils company engaged in the cultivation of oil palm and the production, refining, and marketing of specialty fats and oils. Its operations are strengthened by its key subsidiaries: Ghana Oil Palm Development Company Limited (GOPDC) and Siat Nigeria Limited, which extends its footprint and enhance its market leadership across West Africa.
Discover more from Premium Times Nigeria
Subscribe to get the latest posts sent to your email.
More News
