Champion Breweries Plc has officially opened its N16 billion rights issue of ordinary shares at N16.00 per share, following approvals from the Securities and Exchange Commission (SEC) and the Nigerian Exchange Limited (NGX).

The rights issue, which commenced on Monday, 24th November 2025 and closes on January 5th, 2026, is open for subscription to existing shareholders as at the qualification date of Thursday, 4th September 2025.

This capital raise forms the first phase of Champion’s strategic funding plan to support the proposed acquisition of the Bullet brand portfolio (subject to regulatory approval), strengthening its pan-African growth platform.

Eligible shareholders have received Provisional Allotment Letters and Participation Forms via the Registrar, Africa Prudential Plc., and can submit applications through authorised Receiving Agents or electronically via the NGX Invest platform (https://invest.ngxgroup.com).

According to Champion Breweries, net proceeds from the rights issue will be used as partial payment for acquiring all brand assets and intellectual property of the Bullet range of ready-to-drink beverages.

The company highlighted its strong financial performance, noting revenue growth from N12.7 billion in 2023 to N20.9 billion in 2024, and net income rising from N370 million to N817 million over the same period. In the first half of 2025, Champion reported N15.9 billion in revenue and N2.3 billion in net income, marking the strongest half-year performance in its history.

The acquisition of Bullet is expected to accelerate Champion’s evolution into a diversified, export-enabled beverage company with enhanced earnings capacity and a broader consumer base across Africa.

Dr. Inalegwu Adoga, Managing Director of Champion Breweries, said:
“We’re pleased with the progress of our rights issue and the strong engagement from our shareholder community. This exercise gives existing investors the opportunity to participate directly in Champion’s next chapter — combining nearly 50 years of heritage with a fast-growing pan-African platform.”

David Butler, Group Managing Director of enJOYcorp, added:
“This rights issue reflects Champion’s continued commitment to disciplined, sustainable growth. The Bullet asset carve-out structure will provide immediate scale and FX earnings without heavy upfront investment. Our existing shareholders remain central to this transition.”

The rights issue is managed by Rand Merchant Bank Nigeria Limited as Lead Issuing House, with FBNQuest Merchant Bank Limited, CardinalStone Partners Limited, Investment One Financial Services Limited, and CFG Maynard Limited as Joint Issuing Houses. Africa Prudential Plc. serves as Registrar.

Shareholders are advised to review the rights circular carefully and consult stockbrokers or professional advisers before applying.