Champion Breweries  Commences N15.91bn Rights Issue to Strengthen Expansion Strategy

Kayode Tokede

Champion Breweries Plc, yesterday announced that it has commenced a rights issue worth N15.91 billion on the Nigerian Exchange Limited (NGX).

The brewery maker has offered to existing shareholders a rights issue of 994,221,766 ordinary shares priced at N16 per share. This followed approval by the Securities and Exchange Commission (SEC), marking the first phase of a two-step capital-raising programme aimed at strengthening the company’s expansion strategy.

The company’s stock price closed November 25, 2025 at N13.20 per share on the Exchange.

The offer, structured on the basis of one new share for every nine existing shares held, opened on Monday, 24 November 2025 and will run until Monday, 5 January 2026. The qualifying date for determining eligible shareholders was set for 4 September 2025.

The company in a notice to the NGX, disclosed that the proceeds from the rights issue will support the strategic acquisition of the Bullet brand, a move positioned as central to Champion Breweries’ domestic and international growth ambitions.

The initiative forms part of a broader capital-raising plan that will be followed by a public offer in the coming months.

The Rights Circular, containing full details of the offer, is being distributed by Africa Prudential Plc, the Registrars to the issue, and is also available for download on the company’s website.

Shareholders may subscribe electronically via the NGX Invest platform or complete physical participation forms available through the issuing houses and designated receiving agents listed in the circular.

Champion Breweries noted that the rights issue will become tradable on the NGX after completion of all regulatory documentation.

The company urged shareholders to take advantage of the offer and seek guidance from their stockbrokers or financial advisers where necessary.

Company Secretary, Champion Breweries, Tosan Aiboni, reaffirmed the company’s commitment to transparent engagement with investors as it pursues the next phase of its growth trajectory.

The company in its unaudited financial statements for the half year ended June 30, 2025, reported a pre-tax profit of N4.04 billion from N232.7million loss before tax  reported in half year ended June 30, 2024. The company.

Champion Breweries recorded revenue of N15.9 billion in H1 2025, up from N9.5 billion in the same period last year, driven by strong demand for its brewed products.

As expected, the cost of sales rose alongside revenue, climbing 25.34 per cent year-on-year to N7.4 billion.

Despite this increase, gross profit still surged, reaching N8.4 billion, more than double the N3.5 billion recorded in the first half of 2024.

On the balance sheet, the company’s total assets rose to N25.1 billion, up 17.75%, driven largely by property, plant, and equipment valued at N14.7 billion.

On the equity side, total equity stood at N14.2 billion, up from N12 billion, with retained earnings of N6.04 billion making up the largest portion.

Total liabilities increased to N10.9 billion from N9.2 billion, led by trade and other payables of N3.8 billion and borrowings of N3.6 billion.