Champion Breweries Launches N15.9bn Rights Issue for Bullet Brand Acquisition

Champion Breweries Plc, based in Akwa Ibom, Nigeria, has initiated a N15.9 billion Rights Issue to fund the acquisition of the Bullet brand, marking a significant step in its expansion agenda. The company plans to issue 994.2 million ordinary shares at N16 each, with the offer open from Nov 24, 2021, to Jan 5, 2026.

The funds raised will be used for strategic acquisitions and to enhance its domestic and international market presence. Shareholders can subscribe through the Nigerian Exchange's digital platform.

Wasiu Alli, a business and economic journalist, provided insights into the company's move.