Champion Breweries Meets NGX Free Float Requirement

Champion Breweries Plc has confirmed that it has met the Nigerian Exchange (NGX) minimum free float requirement following a successful capital raise worth approximately N60 billion. This development was disclosed in a statement made available by Nairametrics on Saturday, March 7, 2026.

The company completed its public offer and rights issue, which increased its free float above the required threshold, allowing it to list on the main board of the NGX. Prior to this, Champion Breweries was among nine companies flagged for free float deficiency by the NGX regulatory body.

The successful capital raise included N15.9 billion from a rights issue for existing shareholders and N42 billion from a public offer. The funds raised will help strengthen the company's balance sheet and support its strategic expansion plans, including the acquisition and transfer of ownership of the Bullet's brand trademark and commercial rights across its African market.

The free float represents the portion of the company's shares available for public trading on the exchange, excluding shares held by insiders, government entities, and strategic investors.