Economy
Presco Begins Subscription for N30bn Bond Issuance
By Aduragbemi Omiyale
One of the leading integrated agro-industrial companies, Presco Plc, is looking to borrow N30 billion from investors through the issuance of bonds.
Subscription for the bond issuance commenced on Monday, February 28, 2022, and will close on Monday, March 7, 2022, according to details of the exercise obtained by Business Post.
The debt instrument, which has a tenor of seven years, would be sold at a coupon rate between 12.25 per cent and 12.75 per cent, with the principal repayments to be amortised following a 36-month moratorium.
The fixed-rate senior unsecured bonds are callable either in part or in whole, and can be exercised by the issuer from the expiration of 48 months from the issue date, in accordance with the provisions of the Series I Trust Deed.
According to Presco, the funds raised from the exercise would be used to refinance bank facilities and for working capital requirements.
Interested bond traders can purchase the notes with a minimum of N10 million and multiples of N1,000 thereafter and after issuance, they could be listed on the Nigerian Exchange (NGX) Limited and/or the FMDQ Securities Exchange.
Presco is a subsidiary of SIAT SA and has interests in oil palm plantations, palm oil mill, palm kernel crushing plant and vegetable oil refining and fractionation plants.
The firm also has olein and stearin packaging plants and a biogas plant to treat its palm oil mill effluent which is the first of its kind in West Africa.
Presco specialises in the cultivation of oil palm and in the extraction, refining and fractionation of crude palm oil into finished products and is the market leader for supply of speciality fats and oils and assures a reliability of supply of its products year-round.
The company holds the Obaretin Estate (a concession of 6,387 hectares), the Ologbo Estate (a concession of 13,545 hectares), and Sakponba Estate (a concession of 16,738 hectares) all located in Edo State. The Cowan Estate (a concession of 2,739 hectares), also held by Presco, is located in Delta State.
By Aduragbemi Omiyale
The pre-registration training and examination for capital market operators (CMOs) for the second quarter of 2026 has been postponed.
Business Post gathered that the new date for the exercise is now Monday, June 15, 2026.
This information was disclosed by the Securities and Exchange Commission (SEC) through a circular on Monday, June 8, 2026.
The Nigerian capital market regulator stated that this postponement has also resulted in the extension of the deadline for registration to Friday, June 12, 2026.
In the notice today, the SEC expressed its regret for the inconvenience this action may cause operators, who had prepared for the initial date of the training and examination.
“Further to the recent circular on Q2 2026 Pre-registration Training and Examination, the Securities and Exchange Commission (SEC) hereby informs all eligible applicants for the Q2 2026 Pre-registration Training and Examination that the commencement date has been postponed to Monday, June 15, 2026.
“Registration on the designated portal has also been extended to Friday, June 12, 2026. All other conditions contained in the circular remain unchanged.
“The commission regrets any inconvenience this postponement may cause and appreciates the understanding of all applicants,” the disclosure noted.
By Aduragbemi Omiyale
One of the leading healthcare firms in Nigeria, Fidson Healthcare Plc, has listed additional shares on the Nigerian Exchange (NGX) Limited.
The new stocks absorbed into the stock market were 600 million units, raising the total issued and fully paid-up shares of Fidson to 3,000,000,000 ordinary shares of 50 Kobo each from 2,400,000,000 ordinary shares of 50 Kobo each.
The fresh equities came from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share.
They were issued to existing investors on the basis of one new ordinary share for every existing four ordinary shares held as of the close of business on Wednesday, November 12, 2025.
Confirming the development, the regulator in a notice said, “Trading licence holders are hereby notified that an additional 600,000,000 ordinary shares of 50 Kobo each of Fidson Healthcare Plc were on Tuesday, June 2, 2026, listed on the daily official list of Nigerian Exchange Limited.
“The additional shares arose from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share on the basis of one new ordinary share for every existing four ordinary shares held as at the close of business on Wednesday, November 12, 2025.
“With the listing of the additional 600,000,000 ordinary shares, the total issued and fully paid-up shares of Fidson Healthcare Plc have now increased from 2,400,000,000 to 3,000,000,000 ordinary shares of 50 Kobo each.”
By Modupe Gbadeyanka
This news will surely excite local contractors with verified claims of N100 million or less, as the federal government has approved their payments.
This approval for the disbursement was given by the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele.
This followed a verification and reconciliation exercise designed to ensure only validated claims qualify for payment.
The beneficiaries cover contractors across multiple ministries, departments and agencies. The release of the funds is expected to enable contractors to return to project sites, pay workers, settle suppliers and meet outstanding financial commitments.
In an announcement on Monday, the Federal Ministry of Finance also said this latest batch of payments would ease liquidity pressure on small businesses and accelerate economic activity nationwide.
It was noted that the payments for verified claims of N100 million below were strategically done to spread economic impact broadly rather than concentrate disbursements among a handful of large firms.
The payments form part of a broader push to clear inherited contractor obligations, with over N700 billion verified in recent months.
“For many beneficiaries, the release of funds represents more than a financial transaction. It provides the certainty needed to sustain operations, preserve jobs, complete ongoing projects, and contribute to economic recovery and growth,” the ministry said in a statement.
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