International Breweries Plc raises US$452.9m in a fully subscribed Rights Issue

Must Read

List of Guaranty Trust Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number that usually identifies both the bank and the branch where an account is...

Top 10 Most Expensive Universities In Nigeria

For many Nigerians, high-quality higher education is a luxury. There are many private universities who are known not only...

List of Mobile Phone USSD Codes for Money Transfers for All Banks in Nigeria

As technology evolves, the financial sector is not left behind, Several softwares have been developed to make banking easier...
International Breweries Plc raises US2.9m in a fully subscribed Rights IssueInternational Breweries Plc raises US2.9m in a fully subscribed Rights Issue

International Breweries Plc, the Nigerian unit of the global brewer, Anheuser-Busch InBev has achieved 100% subscription in its just-concluded Rights Issue, which was described as the largest in Nigeria.

The brewery giant was able to raise N165 billion (US$452.9m) through the sale of 18.3 billion units of ordinary shares of 50 kobo each at N9.00 per share to its existing shareholders in December 2019.

This was followed by the parent company AB InBev injected N123bn (US$339m) into the brewery’s operations, committing to participate fully in the capital raising exercise.

On December 5, 2019, the offer was opened for shareholders, whose names appeared in the register of members of the company as of November 6, 2019. An offer of 17 ordinary shares was made for every 8 ordinary shares to existing shareholders

Read:  Human Rights Day: Gov. Ishaku Bags Best Human Rights Friendly Governor in the North
- Advertisement -

Nigerian Stock Exchange (NSE) moves to protect investors’ data, Ekiti, Osun, Delta, Imo, 9 others raise over N500 billion (US$13.7m) bonds in 10 years, Equities: Foreign investors remain, net sellers of Nigerian equities, Top 10 stockbroking firms traded N1.35 trillion (US$3.7b) on stocks in 2019, Equities: A bullish run to start the year, NSE to sustain growth in 2020, CEO assures

Read:  Taking Responsibility - Ipsos UU Supporting Children's Health in Nigeria

This was disclosed by the new Finance Director, Mr Bruno Zambrano when he led the Board and Management team of the company on courtesy on the NSE. The additional shares, which were raised during the offer, were listed on the NSE on Friday, February 7, 2020.

Read:  Dangote Salt, NAFDAC collaborate to sanitize food market

The International Breweries’ team had an interactive session with the council members of the Exchange led by Mr Oscar Onyema, CEO, NSE.

Onyema commended the visitors and informed them that the Exchange was engaging Government on the need for listed companies such as IB Plc to be given tax breaks as an incentive to promote growth and productivity.

- Advertisement -

The NSE boss asked the company to take the next bold step by visiting again soon for ‘facts behind the figures’ session to further educate capital market operators and the investing public on the financial performance of the company.

- Advertisement -

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Latest News

Poly Introduces Powerful New Partner Program

Poly Brings the Award-Winning Polycom and Plantronics Partner Programs Together for Innovative Program Built on Best Practices  SINGAPORE - Media...

New Quarter-Turn Fastener from Southco Designed for Use in Tight Spaces

HONG KONG, CHINA - Media OutReach - 8 April 2020 - Southco Asia Ltd., a subsidiary of Southco Inc., a leading global provider of engineered access solutions such...

The Club Token: Global Luxury Club Membership Launches

Revel in the high life across resorts in 6 countries Work like the rich -- let your money work for you while you truly live...

Zenith Bank Introduces Automated Voice Banking Service

Zenith Bank Plc, Nigeria’s leading financial institution, has introduced an automated voice banking service, an interactive voice response (IVR) solution which enables customers to...
- Advertisement -
BrandsPur Weekly Cartoons
%d bloggers like this: