Champion Breweries Plc has commenced a N16 billion rights issue, offering ordinary shares at N16 per share, as the company moves to strengthen its balance sheet and fund the next phase of growth.
The offer, which has received regulatory approvals from the Securities and Exchange Commission (SEC) and the Nigerian Exchange Limited (NGX), opened on November 24 and will close on January 5, 2026. It is open to existing shareholders listed on the company’s register as at September 4, 2025.
According to the company, the capital raise represents the first phase of a broader strategic funding plan aimed at supporting the proposed acquisition of the Bullet, subject to regulatory approvals.
The acquisition is expected to strengthen Champion Breweries’ pan-African growth platform and expand its product offerings in the ready-to-drink beverage segment.
Under the rights issue, Champion Breweries is offering 994,221,766 ordinary shares of 50 kobo each, with a total offer size of approximately N15.9 billion.
The shares are being issued based on one new ordinary share for every nine ordinary shares held, payable in full upon acceptance.
Eligible shareholders have received their Provisional Allotment Letters and Participation Forms through the company’s registrar, Africa Prudential Plc. Applications can be submitted through authorised receiving agents or electronically via the NGX Invest.
Managing Director of Champion Breweries, Dr Inalegwu Adoga, said the rights issue provides existing shareholders with a direct opportunity to participate in the company’s next phase of growth.
“We are pleased with the progress of our rights issue and the strong engagement from our shareholder community. This exercise allows our investors to be part of Champion’s next chapter, combining nearly 50 years of heritage with a fast-growing pan-African platform,” he said.
Group Managing Director of enJOYcorp, David Butler, described the offer as a reflection of Champion’s disciplined growth approach. He noted that the Bullet asset carve-out structure is expected to deliver immediate scale and foreign exchange earnings without significant upfront capital outlay.
“This rights issue underscores Champion’s commitment to sustainable growth, with existing shareholders remaining central to this transition,” Butler said.
The rights issue is being led by Rand Merchant Bank Nigeria Limited as lead issuing house, alongside FBNQuest Merchant Bank Limited, CardinalStone Partners Limited, Investment One Financial Services Limited and CFG Maynard Limited as joint issuing houses.
