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Home Companies Corporate deals

FMDQ Exchange lists Presco’s N50 billion bond

Chris Ugwu by Chris Ugwu
July 3, 2022
in Corporate deals
Presco Plc
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FMDQ Securities Exchange Limited (FMDQ), the registration, listing, quotation, and trading of financial securities has announced the approval for the listing of Presco Plc’s N34.50 billion Series 1 Fixed Rate Bond under the N50.00 billion Bond Issuance Programme on its platform.

According to the Exchange in a statement, as a securities exchange with a commitment to facilitate growth and development in the Nigerian debt capital market and economy at large, FMDQ Exchange continues to show its commitment to promoting an efficient, transparent, and well-regulated market, which attracts and retains both domestic and foreign investors, through the provision of a world-class listing and quotation service, amongst others, in line with its mandate.

Q1 2022 Key Highlights:

  • Revenue increased by +94.53% year-on-year (Y-o-Y) from N7.93billion in Q1 2021 to N15.42billion in Q1 2022.
  • Cost of sales rose by +111.79% from N1.51billion in Q1 2021 to N3.20billion in Q1 2022.
  • Gross profit increased by +90.46% from N6.42billion in Q1 2021 to N12.22billion in Q1 2022.
  • Finance costs grew by +133.75% to N689.42million compared to N294.94million in Q1 2021.
  • Profit before tax increased by +72.37% from N4.95billion in Q1 2021 to N8.53billion in Q1 2022.
  • The asset turnover ratio rose from 0.48X to 3.02X.
  • Total Assets grew by +61.08% from N76.22billion in Q1 2021 to N122.75billion in Q1 2022
  • Total debt rose by +125.56% to N27.99billion.
  • Basic Earnings Per share rose by +51.56% from N3.84k to N5.82k.

What you should know

Presco Plc is a fully-integrated agro-industrial establishment that specialises in the cultivation of oil palm plantations and milling and crushing palm kernels to produce a range of refined vegetable oil. It also has olein and stearin packaging and biogas plants to treat its palm oil mill effluent.

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The proceeds generated from the Presco Plc Series 1 Bond, which is co-sponsored by Stanbic IBTC Capital Limited (Lead Sponsor), CardinalStone Partners Limited and Quantum Zenith Capital and Investments Limited – all Registration Member (Listings) of the Exchange, will be used by the Issuer to refinance existing facilities from banks and to augment working capital requirements.


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Tags: FMDQFMDQ Securities Exchange LimitedPresco Plc
Chris Ugwu

Chris Ugwu

Chris is a Senior Financial Analyst at Nairametrics Advocates Limited with over a decade stint in active journalism and public relations practice.

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