Champion Breweries N42bn Public Offer

Champion Breweries Plc has launched a N42 billion public offer of ordinary shares at N16.00 per share, following approvals from the United States — United States Securities and Exchange Commission and Nigerian Exchange Group. This public offer, which opened on January 8, 2026, and closes on January 21, 2026, is the second phase of a N58 billion capital-raising program. The proceeds, combined with a N15.9 billion Rights Issue, will primarily fund the acquisition of the Bullet (drink) brand portfolio through an asset carve-out structure. This acquisition will transfer ownership of Bullet (drink)'s brands, trademarks, recipes, and commercial rights across its 14 African markets to Champion Breweries. The funds will also support working capital requirements and growth initiatives such as route-to-market expansion, marketing, innovation, and capacity expansion. Managing Director Inalegwu Adoga and Enjoycorp Group Managing Director David Butler emphasized that this move combines Champion Breweries' brewing heritage with Bullet (drink)'s pan-African ready-to-drink and energy drink platform, aiming to unlock foreign exchange earnings and scale operations efficiently.