Champion Breweries Plc has opened a N16 billion rights issue as part of a wider funding strategy to support the proposed acquisition of the Bullet ready-to-drink (RTD) beverage brand.
The company said the offer, which has received 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 listed in the company’s register as of September 4, 2025.
Under the offer terms, Champion Breweries is issuing 994.2 million ordinary shares of 50 kobo each at N16.00 per share, expected to raise about N15.9 billion. The shares are being offered on the basis of one new ordinary share for every nine shares currently held.
According to the brewer, proceeds from the rights issue will be applied toward the partial settlement of the acquisition of the brand assets and intellectual property of the Bullet range of ready-to-drink beverages. The acquisition remains subject to regulatory approvals.
The capital raise represents the first phase of Champion’s broader financing plan and is aimed at expanding its product portfolio beyond beer while strengthening its presence across African markets.
Eligible shareholders have received provisional allotment letters through the company’s registrar, Africa Prudential Plc. Applications can be submitted via authorised receiving agents or electronically through the NGX Invest platform. The newly issued shares will be listed on the Nigerian Exchange upon completion of the offer.
The rights issue comes amid improved financial performance by Champion Breweries. The company’s revenue rose to N20.9 billion in 2024 from N12.7 billion in 2023, while net profit increased to N817 million from N370 million over the same period.
Growth has continued into 2025, with the brewer reporting revenue of N15.9 billion and net income of N2.3 billion in the first half of the year. The performance surpassed earnings recorded in several previous full-year results and marked the strongest half-year performance in the company’s history.
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