Champion Breweries Plc has opened a N16 billion rights issue as part of a broader funding plan to support the proposed acquisition of the Bullet ready-to-drink beverage brand.
The brewer said the offer, which received prior approval from the Securities and Exchange Commission (SEC) and the Nigerian Exchange Limited (NGX), opened on November 24, 2025, and will close on January 5, 2026. The rights issue is available to existing shareholders on the company’s register as of September 4, 2025.
Under the offer, Champion is issuing 994.2 million ordinary shares of 50 kobo each at N16.00 per share, raising about N15.9 billion. The shares are being offered on the basis of one new share for every nine ordinary shares held.
Read also: Champion Breweries launches N15.9bn Rights Issue to fund bullet brand acquisition
According to the company, proceeds from the rights issue will be used to partially settle the acquisition of the brand assets and intellectual property of the Bullet range of ready-to-drink beverages. The transaction remains subject to regulatory approval.
The capital raise marks the first phase of Champion’s broader funding strategy. It is aimed at expanding the company’s product portfolio beyond beer and deepening its footprint across African markets.
Eligible shareholders have received provisional allotment letters through the company’s registrar, Africa Prudential Plc. Applications can be submitted through authorised receiving agents or electronically via the NGX Invest platform. The new shares will be listed on the Nigerian Exchange upon completion of the offer.
Read also: Champion Breweries conducts signing ceremony for proposed N15.9bn rights issue
The rights issue comes at a time of improving financial performance at Champion Breweries. Revenue rose to N20.9 billion in 2024 from N12.7 billion in 2023. Net profit also increased, climbing to N817 million from N370 million over the same period.
Momentum has continued into 2025. In the first half of the year, the company reported revenue of N15.9 billion and net income of N2.3 billion. The result surpassed earnings recorded in several full financial years and marked Champion’s strongest half-year performance to date.