Presco Plc Rights Issue Oversubscribed at 103%, Signalling Strong Investor Confidence

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 a 103 per cent subscription level, underscoring strong shareholder participation and sustained confidence in the company’s strategic direction and long-term growth prospects.

The Rights Issue attracted demand in excess of the offer size, highlighting continued investor appetite for Presco Plc’s equity and a clear willingness by shareholders to increase their exposure to the business. The outcome reflects broad-based participation from institutional investors, pension fund administrators, and retail shareholders.

The oversubscription is particularly significant given the prevailing cautious mood in the capital market, marked by tightening liquidity and more selective investor participation. Against this backdrop, Presco Plc’s ability to exceed its offer size points to the depth of confidence it continues to command across the investment community.

Market participants have described the strong response as a clear endorsement of Presco Plc’s business fundamentals, disciplined execution, and strengthened governance framework. The result reinforces confidence in the company’s operational resilience, its fully integrated business model, and its capacity to consistently deliver sustainable long-term value.

Beyond signalling investor confidence, the successful Rights Issue is expected to strengthen Presco Plc’s financial position by enhancing balance-sheet capacity to support future expansion and disciplined strategic execution. The additional capital provides the company with greater flexibility to pursue growth opportunities while maintaining financial stability.

Overall, the oversubscribed Rights Issue further consolidates Presco Plc’s position as a credible and well-regarded issuer within the Nigerian capital market, reflecting confidence not only in its current performance but also in its long-term vision and growth trajectory.