• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Companies

Champion Breweries to issue 1.58 billion shares, targets N15 billion ahead of Extraordinary General Meeting 

Izuchukwu Okoye by Izuchukwu Okoye
November 21, 2024
in Companies, Company News
Champion Breweries Plc
Share on FacebookShare on TwitterShare on Linkedin

Champion Breweries Plc plans to issue 1,579,058,099 ordinary shares to raise capital from local and international markets, a key agenda item for its Extraordinary General Meeting (EGM) slated to be held on December 4, 2024.

The announcement, signed by the Company Secretary and Legal Advisor, Chief Tosan Aiboni, was disclosed on the Nigerian Exchange (NGX) platform on November 20, 2024.

Also in the disclosure, the company announced its intention to raise up to N15 billion in additional capital, outlining plans to mobilize the funds through various channels, subject to the board’s discretion.

RelatedStories

Champion Breweries Plc

Champion Breweries shares up 246.46% — How other beer companies are performing in 2025 

July 5, 2025
First Bank

FBN Holdings takes steps to safeguard company interests amid EGM demand reports 

January 10, 2025

Providing further details, the disclosure stated:

“Notice is hereby given that an Extraordinary General Meeting (“EGM”) of Champion Breweries Plc. (the “Company”) was scheduled to be held on Wednesday, December 4, 2024, at the Oriental Hotel, 3 Lekki Road, Victoria Island, Lagos.” 

What to know 

  • The company plans to raise capital by issuing up to 1,579,058,099 (one billion, five hundred and seventy-nine million, fifty-eight thousand, ninety-nine) ordinary shares in Nigeria and/or international markets, either as a single offering or through a series of offerings.
  • Capital may be raised through various methods, such as public offerings, private placements, or rights issues, with prices determined by the board and subject to regulatory approval.
  • The company’s share capital will be increased by the number of shares issued during the capital raise, based on terms set by the board.
  • After the capital increase and the allotment of shares, the company’s memorandum and articles of association will be updated to reflect the revised share structure.

Additional capital raise 

  • Champion Breweries Plc also announced its intention to pursue a special business resolution to authorize the raising of additional capital of up to N15,000,000,000 (fifteen billion naira).
  • This significant capital injection may be achieved through various instruments, including convertible or non-convertible notes, green bonds, hybrid securities, or other innovative financial tools.
  • The capital raise will occur in Nigerian or international markets, or both, through public offerings, private placements, rights issues, or other methods, with terms and pricing set by the Board and subject to regulatory approvals.

The resolution, as outlined in the disclosure, states:

“That the Company be and is hereby authorized to raise additional capital of up to N15,000,000,000 (fifteen billion Naira) directly and/or indirectly by such means as the Board may deem appropriate.”

Backstory 

In October, Champion Breweries hinted at its plans to raise capital through a public offer, a move aimed at meeting Nigerian Exchange (NGX) listing requirements while also fueling its growth ambitions.

During the company’s “Facts Behind the Figures” presentation on October 15, 2024, Managing Director Dr. Inalegwu Adoga outlined the strategy, stating:

“We intend to issue new shares to the public to achieve the required NGX free float of 20%.” 

Dr. Adoga further emphasized the broader benefits of addressing the free float deficiency, explaining: 

“Addressing the free float deficiency will help us raise funds to complete our current infrastructure upgrades, increase our capacity to meet existing demand, gain operational efficiency, and enhance profitability.” 

This announcement follows the company’s June 2024 acquisition by EnjoyCorp, which secured an 86.4% ownership stake for the firm, while Akwa Ibom State retains 10% and the public holds the remaining 3.6%.


Follow us for Breaking News and Market Intelligence.
Tags: Champion breweriesChief Tosan AiboniExtraordinary General Meetingordinary shares
Izuchukwu Okoye

Izuchukwu Okoye

Okoye Izuchukwu is a financial market writer and trader with extensive expertise in both Nigerian and international markets. With a keen eye for market trends and a passion for insightful analysis, he translates complex financial concepts into engaging content. By combining practical trading experience with thorough research, Okoye offers valuable perspectives that empower readers to make informed decisions in the ever-evolving world of finance.

Related Posts

Champion Breweries Plc
Equities

Champion Breweries shares up 246.46% — How other beer companies are performing in 2025 

July 5, 2025
First Bank
Company News

FBN Holdings takes steps to safeguard company interests amid EGM demand reports 

January 10, 2025
FMCGs
Consumer Goods

FMCGs record 133% increase in finance cost in 2024  

November 26, 2024
Cutix Plc, dividend, CUTIX, VERITASKAP Lead Gainers as NGX ASI gain N5 billion
Companies

 Cutix PLC cancels Extraordinary General Meeting after board member resigns 

November 20, 2024
Champion Breweries Plc
Blurb

Champion Breweries targets retail investors for expansion: Key takeaways 

October 21, 2024
Champion Breweries Plc
Blurb

The acquisition of Champion Breweries: What is in it for minority shareholders? 

June 21, 2024
Next Post
Trader turns $865 to $6.4 million trading Chill Guy meme coin  

Trader turns $865 to $6.4 million trading Chill Guy meme coin  

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank








DUNS

Recent News

  • IGP sues Abu Arome, 3 Ghanaians over alleged forgery of company shares allocation document
  • Nigeria’s oil rig count rises to 46 in July 2025 – NUPRC
  • Oyo State approves N7.7 billion for two surveillance aircraft to combat insecurity 

Follow us on social media:

Recent News

IGP prosecutes Nigerian businessmen over alleged N13.5 billion forex fraud dispute  

IGP sues Abu Arome, 3 Ghanaians over alleged forgery of company shares allocation document

July 9, 2025
Nigeria’s gas flare commercialisation programme could unlock $2.5 billion investment – NUPRC 

Nigeria’s oil rig count rises to 46 in July 2025 – NUPRC

July 9, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics