Champion Breweries conducts signing ceremony for proposed N15.9bn rights issue

Champion Breweries Plc held a formal signing ceremony on Friday, November 14, 2025, as part of the arrangements to raise N15.9bn through a rights issue to existing shareholders.

This follows the shareholder approval received at Champion Breweries’ extra-ordinary general meeting of the shareholders held on July 24, 2025. The rights issue represents the first phase of a two-step capital raise, with a public offer to follow shortly.

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. 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, 2025.

At the signing ceremony held, Adoga Inalegwu, MD/CEO of Champion Breweries Plc, stated:

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“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 maximise the success of this strategic transaction, the company said.

The lead issuing house for the rights issue is Rand Merchant Bank Nigeria Limited, with joint issuing houses including FBNQuest Merchant Bank Limited, CardinalStone Partners Limited, Investment One Financial Services Limited and CFG Maynard Limited.

Full details, including allotment and subscription procedures, will be provided in the rights circular. Shareholders and prospective investors are advised to review the Circular carefully and seek professional guidance where necessary.

Hope Moses-Ashike

Hope Moses-Ashike is an Associate Editor, Banking and Finance, with more than a decade of experience reporting on Nigeria’s financial system and broader economy. She closely tracks market movements, monetary policy decisions, company disclosures, regulatory actions, economic indicators, and global developments, and interprets what they mean for businesses, investors, policymakers, and households. Her reporting helps readers understand complex issues such as inflation trends, foreign exchange market dynamics, interest rate decisions, bank performance, and investment risks. She also covers major international events and periodically travels to Washington, D.C., to report on the World Bank/IMF Spring and Annual Meetings. Her dedication to financial journalism has earned her multiple recognitions and invitations to high-level professional development programmes. She is an alumna of the International Visitors Leadership Programme (IVLP) in the United States and holds an Advanced Financial Journalism Certificate from the Press Association Training in London, UK. Her other notable achievements include completing the Lagos Business School CMC Programme, the Bloomberg Media Africa Initiative Programme, and a Master Class in Journalism at Rhodes University in South Africa.