Champion Breweries Plc to raise N42bn via public offer

Champion Breweries Plc has notified its shareholders and the Nigerian Exchange that the Company has obtained the approval of the Securities and Exchange Commission to commence the N42 billion Public Offer of ordinary shares at N16 per share.

The Public Offer gives institutional and retail investors an opportunity to participate in Champion’s next phase of growth as it prepares to acquire the Bullet brand portfolio and expand its footprint across Africa. The Public Offer follows the ₦15.9 billion Rights Issue to existing shareholders, representing the first phase of the Company’s two-step capital-raising programme.

The Public Offer details are stated thus:

• Offer size: ₦42 billion

• Offer structure: 2,625,000,000 Ordinary Shares of 50 kobo each

• Offer price: ₦16.00 per share, payable in full on application

• Application opens: 8th January 2026

• Application closes: 21st January 2026

• Listing venue: Nigerian Exchange Limited (NGX)

• Receiving Bank: Access Bank

Use of Proceeds – Bullet Asset Carve Out

Net proceeds from the Public Offer, together with those of the Rights Issue, will be applied as follows:

• Funding the acquisition of the Bullet brand portfolio through an asset carve out that transfers ownership of Bullet’s brands, trademarks, recipes and commercial rights across its African markets to Champion.

• Supporting working capital requirements and growth initiatives in areas such as route to market, marketing, innovation and capacity expansion.

Bullet is Nigeria’s leading ready to drink alcoholic beverage and one of the top energy drink brands in its markets of presence. The brand is currently sold in 14 African countries and earns a significant portion of its revenues in foreign currency, providing Champion with a natural FX hedge and a platform for continued regional expansion.

Issuing Houses and Registrar

The Public Offer is managed by Rand Merchant Bank Nigeria Limited as Lead Issuing House, with FBNQuest Merchant Bank Limited, FCMB Capital Markets Limited, CardinalStone Partners Limited, Greenwich Merchant Bank Limited, Chapel Hill Denham Advisory Limited, Comercio Partners Capital Limited, and Fortress Capital Limited serving as Joint Issuing Houses. Africa Prudential Plc is the Registrar to the Offer.