Champion Breweries Meets NGX Free Float Requirement

Champion Breweries Plc (NGX: CHAMPION) has announced that it has met the Nigerian Exchange Group (NGX: NGXGROUP)'s (NGX) minimum free float requirement of 20%, which is necessary for companies listed on the main board of the exchange. This achievement follows a successful public offer and rights issuance that enabled the company to increase its free float above the required threshold.

As a result, the compliance status will be updated, and the previous display beside the company's name on the NGX platform will be removed. The NGX Regulatory Company (RegCo) confirmed this development, which is part of the exchange's rules governing free float requirements, with a deadline extension to October 31, 2026.

The Nigerian Exchange Group has successfully approved the capital raise, and the Central Securities Clearing System (CSCS) is currently in the final stages of processing share credits related to the public offer. The board of Champion Breweries Plc expressed gratitude to the investment community for their support of the company's long-term vision.