• Presco launches $164M rights issue to fund expansion, open until Dec. 2

• Offer allows shareholders to buy 1 new share for every 6 held

• Funds to boost palm oil output, cut imports in line with Nigeria’s agri plan

Nigerian agro-industrial group Presco, one of the country’s leading palm oil producers listed on the Nigerian Exchange Limited (NGX), has launched a rights issue. The offer is valued at 236.7 billion naira, or about 164 million dollars. The offer opened on Tuesday, November 12, 2025.

The transaction, approved by the NGX, involves issuing just over 166.6 million ordinary shares with a nominal value of 0.50 naira each, offered at 1,420 naira per share. Existing shareholders may buy one new share for every six shares held on the record date of October 13, 2025. Subscription runs until December 2.

Presco says the funds will strengthen its capital base and give shareholders an opportunity to increase their stake in the group. The proceeds will be used for industrial expansion and for completing the acquisition of several greenfield and brownfield projects.

These investments are part of Presco’s long-term plan to increase production capacity and reinforce its position in the regional vegetable oils market. The company expects the expansion to boost domestic production and local processing and reduce palm oil imports.

Nigeria is Africa’s largest palm oil producer but still relies on imports for about a quarter of its consumption. Presco’s plans align with the country’s 2026 to 2030 agricultural strategy, which aims to increase local production and cut food import dependence.

Sandrine Gaingne

Read More: 14/10/2025- Nigerian Palm Oil Producer Presco Seeks $162 Million to Expand