Champion Breweries Targets N58 Billion Equity Raise for Bullet Acquisition

Champion Breweries (NGX: CHAMPION) 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.