In a bid to become the most profitable, sustainable and fully integrated edible oils group in the broader sub-Saharan Africa, Presco Plc is set to complete the 100% acquisition of Ghana Oil Palm Development Company (GOPDC), and purchase 100% shares of Saro Oil Palm Limited (SOP).

Shareholders of the company are expected to approve the proposed acquisition of SOP and ratify the acquisition of GOPDC at their annual general meeting scheduled for August 19, 2025 in Lagos.

To actaulise these acquisitions, Presco plans to raise ₦250 billion through a Rights Issue to existing shareholders. The fund raising is also aimed at strengthening the company’s financial base and supporting its growth strategy.

The Rights Issue will also be tabled before the shareholders and seek their approval at the annual general meeting.

The acquisitions and fund raising, Presco said, are part of its broader plan to increase its plantation size by 37%, from about 43,547 hectares to approximately 59,760 hectares, thereby solidifying its position as one of Africa’s leading oil palm producers.

Presco reported a profit before tax of ₦111.85 billion for the first half of 2025, up 121.8% from ₦50.43 billion in the same period of 2024. Its profit after tax jumped 128.2% to ₦88.72 billion, compared to ₦38.88 billion in the corresponding period of last year, while its earnings per share surged to ₦88.72 from ₦38.88 in 2024.

On account of its impressive performance, Presco’s share price has risen 226.32% this year, from ₦475 in January to ₦1,550 in July. Analysts have raised their year-end target to ₦1,581.59 per share but maintained a “HOLD” rating, citing valuation levels. The company declared an interim dividend of ₦20 per share, yielding 4.4%.