Nigeria’s largest crude palm oil producer, Presco Plc, has announced plans to raise as much as N237 billion in working capital push, through a rights issue to existing shareholders.
The rights issue, which was approved by the shareholder at Presco’s Annual General Meeting held on 19 August 2025, will be deployed towards augmenting working capital to support operational efficiency and financing strategic acquisitions, including targeted investments in complementary agribusinesses in the agro-allied sector, establishing a financial buffer to drive both domestic and international expansion initiatives.
It will also provide existing shareholders with the opportunity to increase their equity holdings in the company, thereby reinforcing their participation in Presco’s long-term vision.