Champion Breweries Conducts Signing Ceremony for Proposed N15.9bn Rights Issue

As part of the arrangements to raise N15.9 billion through a rights Issue to existing shareholders, Champion Breweries Plc held a formal signing ceremony over the weekend.

The rights issue follows the shareholder approval received at Champion Breweries extra-ordinary general meeting (EGM) held in July 2025. The rights issue represents the first phase of a two-step capital raise, with a public offer to follow shortly.

The company said the proceeds will be utilised to fund the strategic acquisition of the Bullet brand, an important step in its domestic and international growth agenda. Under the offer terms, 994,221,766 ordinary shares of 50 Kobo each will be issued at N16 per share, on the basis of one new share for every nine existing shares held. The qualification date for determining eligible shareholders is September 4^th, 2025.

At the signing ceremony, MD/CEO of Champion Breweries Plc, Dr. Adoga Inalegwu stated: “This Rights Issue marks a turning point for Champion Breweries. Completing the Rights Issue for the Bullet acquisition, gives us the scale and strength to compete beyond Nigeria, unlock high-margin growth, and build a platform that resonates internationally. To ensure the completion of the Bullet acquisition before year-end, the offer period will be time-sensitive. Shareholders are strongly encouraged to participate early to maximize the success of this strategic transaction.”