Stanbic IBTC Capital Limited Partners with Nigerian Breweries PLC on Strategic Rights Issue

Nigerian Breweries PLC is offering 22.6 billion ordinary shares at a nominal value of 50 kobo each, priced attractively at ₦26.50 per share. The Issue is open from Monday, 02 September 2024 to Friday, 11 October 2024, allowing shareholders to contribute to the company’s financial health while positioning it for future growth and profitability.

Stanbic IBTC Capital serves as Joint Issuing House to this transaction, while Stanbic IBTC Bank is acting as a Receiving Bank; and Stanbic IBTC Stockbrokers is acting as the Lead Stockbroker. This collaboration underscores Stanbic IBTC’s dedication to ensuring the success of this transaction and showcases its leadership in the financial sector.

Speaking on the transaction, Dele Sotubo, Chief Executive, Stanbic IBTC Capital, reiterated the firm’s commitment to ensuring a successful transaction and expressed gratitude for the opportunity to collaborate on this landmark deal.

For Nigerian Breweries, the Rights Issue is part of its business recovery plan to strengthen its capital base by deleveraging its balance sheet, eliminating certain FX-related exposures and supporting its working capital. Through the Issue, shareholders can support the company to achieve its strategic objectives and return to sustainable profitability.

Founded in 1946, Nigerian Breweries has long been a leader in Nigeria’s brewing industry. Its partnership with Stanbic IBTC Capital on this Rights Issue reaffirms its commitment to maintaining this leadership while advancing the broader development of Nigeria’s capital markets. This enduring collaboration continues to drive innovation and set the stage for future achievements

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