Champion Breweries Plc has opened its N15.91bn rights issue to qualified shareholders in a bid to fund its expansion and the acquisition of Bullet Energy drink.
In a statement filed with the Nigerian Exchange Limited on Tuesday and signed by the Company Secretary, Tosan Aiboni, the company said the offer comprises 994,221,766 ordinary shares of 50 kobo each, offered at N16 per share.
The capital-raising programme had earlier received shareholders’ approval at an Extraordinary General Meeting held on July 24, 2025.
How The Rights Issue Will be Done
Under the terms of the Rights Issue, existing shareholders are entitled to one new share for every nine (9) shares held as of September 4, 2025, which is the qualifying date with the rights issue commencing on November 24, 2025.
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 are expected to become tradeable on the floor of the Nigerian Exchange upon completion of the required documentation.
The company urged shareholders to take advantage of the NGX Invest platform to participate in the offer. It added that shareholders may also subscribe by completing the paper Participation Form.
According to the statement, “Completed Participation Forms, together with payment or evidence of payment for the full amount payable, should be submitted no later than Monday, January 5, 2026, to any of the Issuing Houses or any of the Receiving Agents listed in the Rights Circular.”
Champion Breweries noted that the Rights Issue is the first phase of a two-step capital raise, to be followed by a Public Offer.
“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,” the company added.
