Chams Holding Company Plc has finalised plans to raise N7.65 billion through a combination of a rights issue and private placement offer to strengthen the company’s financial position, support long-term growth and deliver greater value to stakeholders.

The signing ceremony for the hybrid offer was held at the company’s headquarters in Lagos over the weekend. Both components of the offer had previously received unanimous approval from shareholders at the last yearly general meeting.

Under the rights issue, 2,348,030,000 ordinary shares of 50 kobo each will be offered to existing shareholders at N1.70 per share, based on one new share for every two held as of June 16, 2025.

The rights issue will open on Friday, August 8, 2025, and close on Friday, September 12, 2025, while the private placement will open on Monday, September 1, 2025, and close on Friday, September 12, 2025.

Speaking at the event, Group Chairman, Demola Aladekomo, emphasised that the capital raise is central to Chams HoldCo’s ongoing strategic transformation.

“This offer, comprising a Rights Issue and Private Placement, is structured not just for capital infusion, but for long-term investor confidence.

“This capital raise supports the execution of a strategic transformation programme, enabling us to scale innovation, deepen our regional presence, and diversify revenue sources in a manner that is both profitable and defensible.

Group Managing Director, Mayowa Olaniyan, provided more insights, stating: “Funds from these offerings will be utilised to enhance our capital adequacy, reduce leverage and improve liquidity.

“The funds will boost our EMV and biometric card production to establish Chama as a leader among Africa’s certified card manufacturers, enabling us to expand our digital identity, verification and secure payment solutions into West and Central Africa.”