Presco Plc has officially commenced its Rights Issue of 166,666,667 ordinary shares of N0.50 each at N1,420 per share, offering existing shareholders an opportunity to deepen their equity stake in the company.
The offer opens on Wednesday, November 12, 2025, and will close on Tuesday, December 2, 2025, according to a statement by the company’s secretary, Frederick Ichekwai.
The Rights Issue, which is being conducted on the basis of one new ordinary share for every six held as of October 13, 2025, has been approved by the Nigerian Exchange Limited (NGX) and the Securities and Exchange Commission (SEC).
Presco said the move forms part of its broader strategy to strengthen its balance sheet and fund ongoing industrial expansion across its oil palm plantations and processing operations in Nigeria.
According to the company, proceeds from the Rights Issue will be channeled towards Greenfield and Brownfield acquisitions, some of which are already in their final contractual stages, alongside ongoing industrial expansion projects.
These investments, Presco said, are aimed at expanding its production capacity, improving supply chain integration, and reinforcing its leadership position in Nigeria’s edible oil and agro-industrial sector.
The company noted that the Rights Issue reflects its long-term vision to create sustainable growth and value for shareholders while consolidating its market share amid increasing demand for locally produced vegetable oils.
“The capital raised will be directed towards expansion initiatives designed to enhance production capacity and reinforce Presco’s leadership in the region’s edible oil industry,” the company stated.
Presco confirmed that shareholders can access the Rights Circular on its website and through the offer registrars, First Registrars & Investor Services Limited.
The company explained that the Rights being offered are tradable on the floor of the NGX throughout the offer period, providing flexibility for investors who wish to trade their rights.
Eligible shareholders can participate digitally through the NGX Invest platform or by completing the paper Participation Form provided in the Rights Circular. Completed forms, together with proof of payment, are to be submitted no later than Tuesday, December 2, 2025, to any of the issuing houses or receiving agents listed in the offer documents.
Presco encouraged shareholders to contact their stockbrokers for further details, emphasizing that the offer presents a strategic opportunity for investors to increase their exposure to the company’s growth trajectory.
The company described the Rights Issue as a demonstration of its commitment to shareholder empowerment and capital market development, giving existing investors the chance to strengthen their ownership position at a strategic time in the company’s expansion drive.
By allowing shareholders to subscribe at the stated price and ratio, Presco said it is ensuring existing investors maintain their proportional ownership while participating in the next phase of the company’s growth.
Industry analysts view the move as a positive step toward improving liquidity, broadening investor participation, and boosting investor confidence in Nigeria’s agricultural manufacturing sector.
With its strong track record in sustainable agriculture, Presco continues to play a leading role in supporting Nigeria’s non-oil export diversification and food security objectives, leveraging innovation and scale to expand its footprint in the West African market.
With its strong track record in sustainable agriculture, Presco continues to play a leading role in supporting Nigeria’s non-oil export diversification and food security objectives, leveraging innovation and scale to expand its footprint in the West African market.