Champion Breweries Plc has obtained approval from its shareholders to raise N20 billion through bond issuances to fund its operational expansion. The approval, granted at the company’s recent extraordinary general meeting, includes the issuance of up to 1.58 billion ordinary shares to comply with the Nigerian Exchange Limited’s free float requirement. This move aims to enhance market liquidity, support key infrastructure projects, and boost production capacity.
The company plans to launch a N15 billion bond program and a N5 billion Series 1 bond issuance through a dedicated funding vehicle. These bonds will provide the financial foundation for long-term growth and operational stability, positioning Champion Breweries to strengthen its market presence and improve efficiency.
Chairman Imo-Abasi Jacob described the approvals as a transformative step, enabling the company to scale its operations and deliver value to stakeholders. CEO Inalegwu Adoga emphasized that the funding will drive growth and ensure the company remains competitive in the future. With the N20 billion secured, Champion Breweries is set to unlock significant opportunities and enhance shareholder value.
