- Presco Plc successfully completed its Rights Issue with a 103% subscription level, signaling strong shareholder confidence and demand beyond the offer size.
- The oversubscription highlights investor trust in Presco’s integrated business model, disciplined execution, and governance, despite a cautious capital market environment.
- Proceeds from the Rights Issue will strengthen Presco’s balance sheet, supporting future expansion and consolidating its position as a leading issuer in Nigeria’s capital market.
Presco Plc, Nigeria’s leading fully integrated edible Oils and Fats company, has announced the successful completion of its recently concluded Rights Issue, which recorded an impressive 103% subscription level, reflecting strong shareholder participation and an overwhelming confidence in the Company’s strategic direction and long-term growth outlook.
The Rights Issue attracted demand in excess of the offer size, underscoring sustained investor appetite for Presco Plc’s equity and a clear willingness by shareholders to increase their investment in the business.
The oversubscription is particularly noteworthy in a cautious capital-market environment characterised by tightening liquidity and selective investor participation.
Against this backdrop, Presco Plc’s ability to exceed its offer size highlights the depth of confidence it continues to command among institutional investors, pension fund administrators, and retail shareholders.
Endorsement of strategy, execution, and governance
Market participants view the strong response as a clear endorsement of Presco Plc’s business fundamentals, disciplined execution, and strengthened governance. The outcome reinforces confidence in the Company’s operational resilience, integrated business model, and ability to continuously deliver on its commitment to sustainable long-term value.
Strengthened financial position to support future growth
Beyond signalling investor confidence, the successful Rights Issue strengthens Presco Plc’s financial position, providing greater balance-sheet capacity to support business expansion and disciplined strategic execution.
Overall, the oversubscribed Rights Issue further consolidates Presco Plc’s standing as a credible and well-regarded issuer within the Nigerian capital market. The strong participation underscores confidence not only in the Company’s current performance, but also in its long-term vision and growth trajectory.
For further information, please contact:
Kenneth Ugo
Investor Relations Manager
Mobile : +234 (0) 708 488 1691
E-mail : kenneth.ugo@siat-group.com; presco.investors@siat-group.com
About Presco Plc
Presco Plc is a fully integrated edible oils company engaged in the cultivation of oil palm and the production, refining, and marketing of specialty fats and oils. Its operations are strengthened by its key subsidiaries: Ghana Oil Palm Development Company Limited (GOPDC) and Siat Nigeria Limited, which extends its footprint and enhance its market leadership across West Africa.
