Presco Plc (NGX: PRESCO) has notified 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.
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The fully-integrated agro-industrial establishment with oil palm plantations, palm oil mill, palm kernel crushing plant and vegetable oil refining and fractionation plant, made this known in a regulatory filing on Wednesday.
The Offer opens today, Wednesday, 12 November 2025 and closes on Tuesday, 02 December 2025. The Rights Circular will be distributed to shareholders by the Registrars to the Offer, First Registrars & Investor Services Limited and can also be accessed on the Company’s website
https://www.presco-plc.com/.
The Rights being offered are tradable on the floor of the NGX for the duration of the Acceptance Period.
Shareholders are encouraged to participate through the NGX Invest platform which can be accessed at https://invest.ngxgroup.com. Shareholders can also participate in the Rights Issue by completing the paper Participation Form. Completed Participation Forms together with payment / evidence of payment for the full amount payable should be submitted no later than Tuesday, 02 December 2025 to any the Issuing Houses or any of the Receiving Agents listed in the Rights Circular.
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 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.
Shareholders are advised to contact their stockbrokers for more details about the Offer.
About the Company
Presco Plc was incorporated in Nigeria on 24th September, 1991 as Presco Industries Limited, a private limited liability Company, and became a public limited liability Company in February, 2002.
The Company owns oil palm plantations, a palm oil mill and palm kernel crushing plant, vegetable oil refining and fractionation plants and is at present the only fully integrated Company of its kind in Nigeria. The Obaretin Estate was initiated by the then Bendel State Government in the second half of the seventies with financial support from World Bank as part of the State Government oil palm development programme. The implementing agency was the Oil Palm Company Limited (OPCL), a state government concern.
In 1985, the Bendel State Government relinquished control of Obaretin Estate to President Industries Nigeria Limited, a textile manufacturing group. Planting
activities resumed in 1986 and construction of an integrated processing facility began in 1989.
The President group operated the project, then known as Presco Oil Mill and Plantations, as a division until 1991, when Presco was established as an incorporated Company and all the assets and liabilities of the project were transferred to the new Company.
In 2002, the Company became a public limited liability Company and with a successful Initial Public Offer (IPO) completed in October the same year, Presco shares were admitted to quotation at The Nigerian Stock Exchange. Presco Plc’s shares are now actively traded on The Nigerian Stock Exchange, with the Siat Group holding 60% while the Nigerian Public holds 40%.
Presco Plc specializes in the cultivation of oil palms and in the extraction, refining and fractioning of crude palm oil into vegetable oil and palm stearin. The Company produces these specialty fats and oils to the high quality specifications of its customers and assures a reliability of supply of its products all year round, due to the integration of the entire cycle.
The Company operates from two countries (Nigeria and Ghana). The Company made 100% acquisition in Siat Nigeria Limited (SNL) and 52% in GOPDC as a strategy to increase shareholders value.
As at 31 December, 2024, Presco Plc had 1,000,000,000 outstanding shares, with 60% of the shares being held by SIAT SA and 5.12% held by 20450 ZPC/SIPML RSA Fund ii-Main A/C.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur
