- Rand Merchant Bank Nigeria successfully ledPrescoPlc’s ₦236 billion rights issue, the largest non-financial services public capital raise in 2025, achieving a 103% subscription level and strong shareholder participation.
- The capital raise positions Presco to strengthen its balance sheet, expand operations, and advance its vision of becoming Sub-Saharan Africa’s most profitable and sustainable edible oils group.
- RMB provided end-to-end transaction management, including structuring, regulatory navigation, and investor engagement, reinforcing its leadership in delivering innovative, value-driven capital market solutions in Nigeria.
Rand Merchant Bank Nigeria Limited (“RMB” or “RMB Nigeria”) is pleased to announce the successful completion of the ₦236bn rights issue undertaken by Presco PLC (“Presco”).
The Rights Issue is the largest non-financial services public capital raise completed in 2025.
RMB served as the Lead Issuing House on the transaction, working closely with Presco to structure, coordinate, and execute a seamless capital raise.
The transaction was undertaken to position the Company for sustained growth and to advance its vision of becoming the most profitable, sustainable, and fully integrated edible oils group in Sub-Saharan Africa. It also supports Presco’s objective of narrowing the supply–demand gap in Nigeria’s oil palm industry.
The transaction received strong support from shareholders, with high participation from existing investors, and achieved a subscription level of 103%, reflecting continued confidence in the Company’s long-term strategy and performance.
Presco is a leading player in the Nigerian agro-industrial sector, with a proud legacy spanning over three decades. The Company has remained dedicated to delivering value to stakeholders through innovative initiatives that entrench its competitive position, broaden its market presence, and further establish it as a trusted brand to customers across the nation.
RMB Nigeria provided end-to-end deal management, providing transaction leadership, advising on deal structure, navigating complex regulatory processes under accelerated timelines, and coordinating an extensive investor engagement strategy. The transaction was completed within a four-month period from receipt of shareholders’ approval.
Speaking on the successful completion of the transaction, Chidi Iwuchukwu, Executive Director & Head of Investment Banking at Rand Merchant Bank Nigeria Limited, commented:
“We are pleased to have led the successful and oversubscribed rights issue for Presco PLC, a clear testament to the market’s confidence in Presco’s growth ambitions and long-term strategy. This landmark transaction underscores the strength of Presco’s brand and reaffirms RMB’s position as a leader in delivering bold, value-enhancing capital market solutions. We extend our sincere appreciation to Presco for entrusting us with this mandate and thank the Securities and Exchange Commission (SEC), Nigerian Exchange Limited (NGX), Central Securities Clearing System (CSCS), co-Advisers, and their leadership teams for their collaboration in achieving this outstanding outcome.”
Bimbo Oyeyiga, Head of Corporate Finance at Rand Merchant Bank Nigeria Limited, added:
“The successful completion of Presco’s rights issue marks a significant milestone in Nigeria’s agro-allied industrial sector. We are proud to have supported Presco on this landmark transaction, which is expected to strengthen its market position and reinforce investor confidence in its long-term strategy and leadership. This achievement highlights the resilience of Nigeria’s capital markets and underscores RMB’s unwavering commitment to delivering value-driven solutions that foster the growth and sustainability of Nigeria’s leading agro-allied companies.”
About RMB:
RMB Nigeria Limited, a member of the FirstRand Group, is a leading African Corporate and Investment Bank. RMB Nigeria provides clients with innovative, value‑added solutions across advisory, funding, trading, corporate banking, and principal investing. For more information, please visit www.rmb.com.ng
