Presco Plc has announced the successful completion of its rights issue, which recorded a 103 per cent subscription level, reflecting strong shareholder participation and sustained investor confidence in the company’s strategic direction and long-term growth prospects.

The company said demand for the offer exceeded the size of the rights issue, underscoring strong appetite for Presco’s equity among institutional investors, pension fund administrators and retail shareholders. The oversubscription came despite a cautious capital market environment marked by tightening liquidity and selective investor participation.

Market analysts said the response represents a clear endorsement of Presco’s business fundamentals, disciplined execution and strengthened governance framework.

According to the company, the outcome reinforces confidence in its operational resilience, fully integrated business model and ability to deliver sustainable long-term value.

Beyond signalling investor confidence, Presco said the successful rights issue has strengthened its financial position, providing additional balance-sheet capacity to support business expansion and disciplined strategic execution.

The company added that the oversubscribed offer further consolidates Presco Plc’s standing as a credible and well-regarded issuer in the Nigerian capital market, with shareholders demonstrating confidence not only in its current performance but also in its long-term vision and growth trajectory.

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