Champion Breweries Plc has opened a N15.9 billion rights issue as the Akwa Ibom–based brewer begins the first phase of a two-step capital raise aimed at expanding its product portfolio and accelerating growth.
The company said it has secured approval from the Securities and Exchange Commission to issue 994.2 million ordinary shares at N16 each, according to a statement dated Nov. 24. The offer is priced at a nominal value of 50 kobo per share.
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Existing shareholders will be able to buy one new share for every nine held as of Sept. 4. The offer opened on Nov. 24 and will close on Jan. 5, 2026.
Champion Breweries said proceeds will be used to fund the strategic acquisition of the Bullet brand, a move it describes as a “significant step” in its domestic and international expansion agenda.
The transaction marks a push by the brewer to broaden its beverage offerings amid intensifying competition in Nigeria’s beer market.
The rights issue will be followed by a public offer as part of the company’s broader capital-raising programme.
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Shareholders can subscribe via the Nigerian Exchange’s digital platform or through receiving agents listed in the rights circular. Completed forms and payment must be submitted by Jan. 5, the company said.
Trading of the rights is expected to commence on the NGX once regulatory documentation is finalised.
Tosan Atte Aiboni, the company secretary, advised investors to contact their stockbrokers or financial advisers for details on the offer.