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International Breweries announces Rights Issue of 161,172,395,100 ordinary shares at N3.65

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International Breweries hikes prices of beer, other products as cost of production spikes

International Breweries Plc has notified its Shareholders, Stakeholders, Nigerian Exchange Limited and the general public, that the Company has obtained approval from the Securities Exchange Commission to offer to the shareholders the proposed Rights Issue of 161,172,395,100 Ordinary Shares of 2 Kobo each at N3.65 Per Share, on the basis of six (6) new ordinary shares for every one (1) existing ordinary share held.

The Qualification Date for the Rights Issue is May 2, 2024. The application list opened on May 21, 2024, and will close on June 10, 2024 as approved by the Commission.

The Rights circular will be distributed to shareholders by the Company’s Registrars, while application forms will also be made available on the websites of the Company and the Registrars for ease of access.

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Shareholders are advised to contact their stockbrokers and other financial advisers for more details of the offer.

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