Presco Plc, Nigerias largest fully integrated agro-industrial palm processor, chaired by Rasheed Sarumi, has secured shareholder approval to raise up to N250 billion 162.8 million through a Rights Issue. The resolution, passed at the companys Annual General Meeting on Aug. 19, 2025, gives the board the authority to issue new shares, pursue acquisitions, and expand operations.
The planned capital raise, which still requires regulatory clearance, will fund Prescos growth program. This includes direct investments or acquisitions in related businesses. Shareholders also gave the board flexibility to use debt financing or a mix of equity and debt to strengthen the companys balance sheet.
Dividends underline investor support