Champion Breweries Unveils Ambitious N20bn Bond Program For Expansion

Champion Breweries Unveils Ambitious N20bn Bond Program For Expansion

Champion Breweries Plc has received approval from its shareholders to raise N20 billion through bond issuances aimed at expanding its operations. The company announced on Thursday that the resolutions were passed during its recent extraordinary general meeting. This funding will include the issuance of up to 1,579,058,099 ordinary…READ MORE…

shares to meet the Nigerian Exchange Limited’s free float requirement, which is expected to enhance market liquidity. It will also be used to fund key infrastructure projects, expand production capacity, and boost operational efficiency.

As part of its plans, the company will introduce a N15 billion bond programme and an N5 billion series 1 bond issuance through a dedicated funding vehicle. These bonds are designed to provide a strong financial foundation for the company’s long-term growth and operational stability.

Champion Breweries’ Chairman, Imo-Abasi Jacob, described the approval as a transformative step for the company. He stated, “These approvals are a bold and essential move as we prepare for the next phase of growth. With the support of our shareholders, we are ready to enhance our operational capacity, meet regulatory requirements, and deliver exceptional value to all stakeholders. This marks the start of an exciting new chapter in our journey.”

Inalegwu Adoga, the Managing Director/CEO of the company, emphasized the importance of this development. He remarked, “Today is a historic day for Champion Breweries. With the approval of these resolutions, we’re not only ensuring regulatory compliance but also paving the way for an exciting future. This funding will enable us to boost our operational capacity and unlock significant growth opportunities for our stakeholders.”

With the N20 billion funding secured, Champion Breweries is set to strengthen its market presence, enhance operational efficiency, and deliver long-term value to both shareholders and the wider community. The company had previously indicated in October its plans to issue new shares to address its free-float deficiency on the Nigerian Exchange Limited.

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