Champion Breweries opens N15.91bn rights issue

Champion Breweries has opened its N15.91bn rights issue to qualified shareholders.

In a statement filed with the Nigerian Exchange Limited on Tuesday, signed by its Company Secretary, Tosan Aiboni, it was indicated that the offer includes 994,221,766 ordinary shares of N0.50 each at N16 per unit.

The company’s capital-raising programme received shareholder approval at its Extraordinary General Meeting held on 24 July 2025.

Announcing the opening of the offer, Champion Breweries Plc said it has obtained the Securities and Exchange Commission’s approval. Existing shareholders can participate in the offer on the basis of one new share for every nine existing shares held as of 4 September 2025, the qualifying date.

The Rights Circular will be distributed to shareholders by the Registrars to the Offer, Africa Prudential Plc, and can also be downloaded from the company’s website. The Rights Issue will become tradeable on the exchange floor upon completion of the required documentation.

“Shareholders are encouraged to participate through the NGX Invest platform. Shareholders can also participate in the Rights Issue by completing the paper Participation Form. Completed Participation Forms, together with payment/evidence of payment for the full amount payable, should be submitted no later than Monday, 5 January 2026, to any of the Issuing Houses or any of the Receiving Agents listed in the Rights Circular.

“This Rights Issue represents the first phase of a two-step capital raise, with a Public Offer to follow shortly. The proceeds will be utilised to fund the strategic acquisition of the Bullet brand, an important step in Champion Breweries’ domestic and international growth agenda,” read part of the statement.

Source: https://punchng.com/champion-breweries-opens-n15-91bn-rights-issue/