Presco Plc, one of Nigeria’s leading agro-industrial companies, has announced the commencement of its Rights Issue, offering 166,666,667 ordinary shares of ₦0.50 each at ₦1,420 per share.
The offer opened today, Wednesday, November 12, 2025, and is scheduled to close on Tuesday, December 2, 2025.
The Company Secretary, Frederick Ichekwai, disclosed this in a statement filed with the Nigerian Exchange Limited (NGX).
He said the Rights Issue is being offered “on the basis of one (1) new ordinary share for every six (6) ordinary shares held as at October 13, 2025.”
According to Ichekwai, the offer represents a strategic move to strengthen Presco’s capital base and advance its growth agenda.
“Presco Plc (‘the Company’) is pleased to notify its esteemed shareholders and the Nigerian Exchange Limited (‘the NGX’) that the Company has opened the Rights Issue of 166,666,667 ordinary shares of ₦0.50 each at ₦1,420 per share on the basis of one (1) new ordinary share for every six (6) ordinary shares held as at October 13, 2025,” he stated.
He added that the Rights Circular, which provides full details of the offer, would be distributed to shareholders by the offer’s registrars, First Registrars & Investor Services Limited, and can also be accessed on the company’s official website at www.presco-plc.com.
The company confirmed that the Rights being offered are tradable on the floor of the NGX throughout the acceptance period, allowing shareholders the flexibility to trade their rights during the offer window.
“The Rights being offered are tradable on the floor of the NGX for the duration of the Acceptance Period,” Ichekwai explained.
To make participation easier, shareholders are encouraged to subscribe electronically through the NGX Invest platform (https://invest.ngxgroup.com) or via physical submission.
“Shareholders are encouraged to participate through the NGX Invest platform which can be accessed at https://invest.ngxgroup.com,” the statement read. “Shareholders can also participate in the Rights Issue by completing the paper Participation Form. Completed Participation Forms together with payment or evidence of payment for the full amount payable should be submitted no later than Tuesday, 02 December 2025, to any of the Issuing Houses or any of the Receiving Agents listed in the Rights Circular.”
Presco Plc stated that the proceeds from the Rights Issue would be strategically applied to Greenfield and Brownfield acquisitions—some already in their final contractual stages—and to fund industrial expansion projects aimed at enhancing production capacity.
“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,” Ichekwai added.
“The capital raised 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.”
News.ng reports that Presco Plc, a major player in Nigeria’s oil palm and rubber production sector, has continued to invest heavily in local value addition and sustainability initiatives. The latest Rights Issue reflects the company’s commitment to maintaining its growth trajectory and consolidating its market leadership amid increasing demand for edible oils across the West African region.
