Champion Breweries Expands Pan-African Growth With N16bn Rights Issue

Champion Breweries Plc is set to enhance its pan-African presence with a N16 billion rights issue aimed at acquiring Bullet brand assets and bolstering its growth platform. The offering, comprising 994,221,766 shares at N16.00 per share, will be available for subscription to existing shareholders until January 5, 2026.

The company's Managing Director, Dr. Inalegwu Adoga, highlighted the strategic importance of the fund to support the acquisition and strengthen the brand portfolio.

Enjoycorp's David Butler emphasized the benefits of the move in providing immediate scale and foreign exchange earnings. This initiative marks a significant step in Champion Breweries' growth strategy.