Champion Breweries Plc said it has commenced the sale of shares valued at N15.91 billion to existing shareholders, hinting that the proceeds will be utilised to fund the strategic acquisition of the Bullet brand.
The company announced this in a notification to the investing public on Tuesday, November 25, signed by its Company Secretary, Tosan Aiboni.
The offer, which opened on Monday, November 24 and is to close on Monday, January 5, 2026, consists of 994,221,766 ordinary shares of N0.50 each at N16 per unit.
It is being offered based on one new share for every nine existing shares held as of September 4, 2025.
“This is being offered to existing shareholders on the basis of one (1) new share for every nine (9) existing shares held as of September 4th, 2025, being the qualifying date.
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“The Rights Issue will become tradeable on the floor of the Exchange upon completion of the required documentation with the Exchange,” Champion Breweries stated.
It noted that shareholders can 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, 05 January 2026, to any of the Issuing Houses or any of the Receiving Agents listed in the Rights Circular,” Champion Breweries said.
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According to the company, the rights issue represents the first phase of a two-step capital raise, with a Public Offer to follow shortly.
It urged shareholders to contact their stockbrokers and/or financial advisors for more details about the offer.
Pinnacle Daily reports that recently, at its ‘Facts Behind the Figures’ presentation on the Nigerian Exchange (NGX), Champion Breweries revealed that to support the acquisition and future expansion, it will launch a N58 billion capital raise programme, comprising a N42 billion public offer and N16 billion rights issue.
It hinted that the proceeds are expected to be used to acquire the Bullet brand, boost its working capital, market expansion, and sustainability investments, among others.
Alex is a business journalist cum data enthusiast with the Pinnacle Daily. He can be reached via ealex@thepinnacleng.com, @ehime_alex on X
