Nigerian Breweries Plc has commenced its N599 billion capital raising through a rights issue for existing shareholders.
The shares are being offered to existing shareholders on the basis of 11 new Ordinary Shares for every 5 ordinary shares held as at July 12, 2024, being the qualifying date.
Read also: NGX approves Nigerian Breweries N600bn rights issue as largest brewer struggles on FX debt
The rights issue which opened for subscription on Monday,closes on Friday, October 11 2024.
“The Company has obtained the approval of the Securities and Exchange Commission to commence the Company’s Rights Issue of 22,607,491,232 Ordinary Shares of N0.50 each at N26.50 per share,” it said in a notice on Tuesday.
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