Champion Breweries Gets Shareholder Nod For Capital Raise

Champion Breweries Plc has received shareholder approval to issue up to 1,579,058,099 ordinary shares as part of its strategy to meet Nigerian Exchange Ltd. (NGX) free float requirements and drive its expansion goals.

At the company’s Extraordinary General Meeting (EGM) recently held in Lagos, the Chairman of the Board, Mr. Imo-Abasi Jacob, outlined the rationale behind the resolutions. The planned capital raise is aimed at enhancing market liquidity, funding critical infrastructure upgrades, expanding production capacity, and boosting operational efficiency.

In addition to the share issuance, shareholders greenlit a ₦15 billion bond programme, including a ₦5 billion series one issuance to be managed through a dedicated funding vehicle. Mr. Jacob emphasised that these measures are central to strengthening the company’s financial stability and enabling its growth ambitions.

“These approvals represent a bold step forward for Champion Breweries,” he remarked. “With shareholder backing, we are positioned to enhance our operational capacity, ensure regulatory compliance, and deliver value to all stakeholders.”

Champion Breweries’ Managing Director/Chief Executive Officer (CEO), Dr. Inalegwu Adoga, commended the decisions as transformative, highlighting their importance in securing the company’s future.

“This milestone not only ensures regulatory compliance but also sets the stage for significant growth,” Mr. Adoga stated. “We are committed to innovation and leading the charge in shaping the future of Nigeria’s brewing industry.”

The resolutions reflect a forward-thinking strategy aimed at strengthening the company’s operational capacity and cementing its position as a market leader. With these plans, Champion Breweries is poised to achieve sustainable growth while enhancing shareholder value.