Capital Market
RMB Nigeria Anchors ₦236bn Presco Rights Issue, Sets Capital Market Record
Rand Merchant Bank Nigeria Limited has acted as the lead issuing house for Presco Plc’s ₦236 billion rights issue, playing a central role in structuring, coordinating, and executing one of the largest non-financial capital market transactions completed in Nigeria in 2025.
The rights issue was undertaken to support Presco’s long-term growth ambitions and advance its strategic objective of becoming the most profitable, sustainable, and fully integrated edible oils company in Sub-Saharan Africa.
The transaction also aligns with Presco’s plan to help reduce Nigeria’s palm oil supply deficit by expanding production capacity and strengthening backward integration.
The offer received strong backing from shareholders and achieved a subscription level of 103 per cent, reflecting broad investor confidence in the company’s strategy, leadership, and financial performance.
As lead issuing house, RMB Nigeria provided end-to-end transaction leadership, including advising on deal structure, coordinating regulatory approvals, managing investor engagement, and navigating accelerated execution timelines.
The entire transaction was completed within four months of shareholder approval, highlighting the depth of coordination among stakeholders.
Executives at RMB Nigeria described the transaction as a major milestone for Nigeria’s capital markets and the agro-industrial sector, noting that it demonstrates the market’s capacity to support large-scale, real-sector funding.
Presco has operated in Nigeria’s agro-industrial landscape for over three decades and remains a key player in the country’s edible oil value chain.
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