Champion Breweries Targets N58 Billion Equity Raise for Bullet Acquisition

Champion Breweries aims to raise N58 billion through an equity offer to fund the acquisition of Bullet, expanding its presence in 14 African countries. The company's strategy includes a N45 billion bond program for capital needs.

The move follows the acquisition of Bullet's brand and assets, marking its entry into the export market. With a strong market performance, Champion Breweries reported significant growth in net income, driving its stock price up by 300% year-to-date.