Champion Breweries Secures N20 Billion Bond Approval for Expansion
Champion Breweries Secures N20 Billion Bond Approval for Expansion
Champion Breweries Plc has gained shareholder approval to raise N20 billion through bond issuances aimed at driving operational expansion and boosting market compliance. This was revealed in a statement following the company’s extraordinary general meeting.
Key Details:
1. Expansion Funding Breakdown
• N15 billion bond program to be launched.
• N5 billion Series 1 bond to be issued via a dedicated funding vehicle.
• Issuance of 1.58 billion ordinary shares to meet the Nigerian Exchange Limited’s free-float requirements, improving market liquidity and enabling the funding of key projects.
2. Strategic Goals
• Expand production capacity.
• Fund infrastructure projects.
• Improve operational efficiency for long-term growth.
3. Leadership Statements ️
• Chairman, Imo-Abasi Jacob:
“These approvals signify a transformative phase for Champion Breweries. We’re poised for growth while ensuring compliance and delivering exceptional stakeholder value.”
• CEO, Inalegwu Adoga:
“This marks a historic moment. The approved funding sets the stage for operational enhancement and unlocks significant growth opportunities.”
4. Future Outlook
• With this funding, Champion Breweries is positioned to strengthen its market presence, deliver value to shareholders, and contribute to the broader community.
Context:
The move addresses the company’s free-float deficiency on the Nigerian Exchange Limited, a step hinted at in October when plans to issue new shares were announced.
This bold financial strategy signifies a new chapter for the brewery, aligning with its long-term vision for sustained operational excellence and market leadership.
Champion Breweries Plc has gained shareholder approval to raise N20 billion through bond issuances aimed at driving operational expansion and boosting market compliance. This was revealed in a statement following the company’s extraordinary general meeting.
Key Details:
1. Expansion Funding Breakdown
• N15 billion bond program to be launched.
• N5 billion Series 1 bond to be issued via a dedicated funding vehicle.
• Issuance of 1.58 billion ordinary shares to meet the Nigerian Exchange Limited’s free-float requirements, improving market liquidity and enabling the funding of key projects.
2. Strategic Goals
• Expand production capacity.
• Fund infrastructure projects.
• Improve operational efficiency for long-term growth.
3. Leadership Statements ️
• Chairman, Imo-Abasi Jacob:
“These approvals signify a transformative phase for Champion Breweries. We’re poised for growth while ensuring compliance and delivering exceptional stakeholder value.”
• CEO, Inalegwu Adoga:
“This marks a historic moment. The approved funding sets the stage for operational enhancement and unlocks significant growth opportunities.”
4. Future Outlook
• With this funding, Champion Breweries is positioned to strengthen its market presence, deliver value to shareholders, and contribute to the broader community.
Context:
The move addresses the company’s free-float deficiency on the Nigerian Exchange Limited, a step hinted at in October when plans to issue new shares were announced.
This bold financial strategy signifies a new chapter for the brewery, aligning with its long-term vision for sustained operational excellence and market leadership.
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