Presco targets N237bn from existing shareholders as Rights Issue commences

Presco Plc has commenced its Rights Issue of 166,666,667 ordinary shares at N1,420 per share.

The Rights Issue which opened on Wednesday, November 12 closes on Tuesday, December 2.

With the Right Issue, Presco Plc targets to raise about N237billion from existing shareholders.

The Rights Issue is on the basis of one (1) new ordinary share for every six (6) ordinary shares held as at October 13, 2025.

The Rights Issue provides existing shareholders with the opportunity to increase their equity holdings in the Company, thereby reinforcing their participation and support of Presco’s long-term vision.

The capital raised by Presco from 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.

The Rights being offered are tradable on the floor of the NGX for the duration of the Acceptance Period. The company’s shareholders are encouraged to participate through the NGX Invest platform.

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with over 18 years journalism experience writing on banking, finance and capital markets. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos.
Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA).