No be small news oh! Presco Plc don finalise dem Rights Issue wey reach N236 billion! Na dem Rand Merchant Bank Nigeria Limited wey dey lead the charge, and this one na big big achievement for Nigeria agro-industrial sector.
This Rights Issue wey dem do na di largest for non-financial sector for 2025. E be like say Presco dey plan to grow dey go, as dem wan turn dem self to di most profitable and sustainable edible oils group for Sub-Saharan Africa. As e be so, we fit yan say na big step forward for di company.
Shareholders don really show dem support as e be say dem participate plenty, and dem even oversubscribe di issue reach 103 percent! This na clear sign say investors still dey believe in wetin Presco dey do and di long-term strategy dem get for ground.
Chidi Iwuchukwu, wey be di Executive Director & Head of Investment Banking for Rand Merchant Bank, talk say, “We dey happy say we fit lead dis successful Rights Issue wey done dey oversubscribed. E mean say market dey trust Presco growth plans. Dis transaction na proof of di strength wey dey behind Presco brand.”
Bimbo Oyeyiga wey be di Head of Corporate Finance for di same bank, add say, “Dis achievement na significant milestone for Nigeria agro-allied industrial sector. E go help Presco gidigba for market and boost investor confidence in di long-term strategy.” Na so e be, my people!
Wetin dis mean for Nigeria? E mean say we dey see some level of resilience for our capital markets, and e dey show say dem dey work hard to make wetin be impossible, possible! Presco don dey play for di agro-industrial game for over 30 years now, and with dis fresh cash, dem dey sure go fit expand dem reach and fill di supply-demand gap wey dey for Nigeria oil palm industry.
As dem dey move forward, na so dem go fit gree say di future dey shine bright for dem and na im be say Nigeria go benefit from dia successful trajectory. Everybody wey dey part of dis success, from di investors go di regulatory bodies, deserve big commendation!
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