International Breweries Plc, a member of AB InBev, is raising N161.17bn fresh capital through a rights issue.
The firm disclosed in a release that the rights issue was tradable on the floor of the Nigerian Exchange Limited for the duration of the issue, ensuring liquidity and accessibility for shareholders.
According to the brewer, priced at N3.65 per share, this strategic move aims to provide shareholders with an opportunity to increase their equity holdings and support the company’s growth and deleveraging efforts.
International Breweries is the producer of Trophy Lager, Budweiser, Hero Lager, Trophy Extra Stout, Flying Fish, Castle Lite, Beta Malt, and Grand Malt, among others.
The Finance Director of the firm, David Tomlinson, expressed confidence in the rights issue, highlighting it as a compelling opportunity for shareholders.
He reiterated the company’s commitment to creating long-term value for shareholders and fortifying its market position in the Nigerian beverage industry.
“We are pleased to announce the International Breweries Plc rights issue offering, which presents a convincing opportunity for our valued shareholders to further participate in the growth and success of our company.
“With a rights ratio of six new ordinary shares for everyone held and an offer price of N3.65 per share, we aim to provide our shareholders with access to additional equity at an attractive valuation.
“This offering underscores our commitment to creating value for our shareholders while fortifying our position in the Nigerian beverage industry. We encourage all shareholders to seize this opportunity to participate in the growth story of our dynamic business. Together, we will continue to brew success, deliver long-term value for our shareholders and create a future with more shares,” he expounded.
Also, the acting. CEO of NGX, Jude Chiemeka, noted that the NGX was dedicated to assisting issuers in getting the most out of their dealings with the market.
“At the NGX, we remain committed to helping issuers derive great value from their interactions with the market. By positioning ourselves as the African exchange of choice, we will continue to adopt rules aimed at improving the corporate governance of our listed firms and offer products and services that are tailored to the needs of investors in a fair and orderly market.”
SOURCE: PUNCHNG
