Champion Breweries Nigeria plc on Monday disclosed that the company plans to raise fresh capital through a mix of debt instruments and equities.
The equities capital raising will entail rights issues to existing shareholders of the company, while public offer targets to reach out to new investors in the equities space, as well as fund raising through debt instrument.
This was disclosed on Monday when the company board and management made a presentation of its Facts behind the Figures at the event Centre of the NGX Building at Customs street Lagos Nigeria.
Mr. Rasheed Adebiyi Finance Director, Champion Breweries said that the in the proposed capital raising through equity and debt instruments, the company plans to raise a total of about N90 billion, targeting aboutN42.16 billion in equities capital raising, while N45 billion is rejected to be raised through debt instruments.
While the pricing and modalities are currently being worked and subsequent to approval of the capital market regulators, Champion Breweries Chief Executive Officer said that the debt instrument financing targets N45 bullion, but will first raise N30 billion in the first tranche of the exercise.
Part of the proceeds of the fresh capital, the company disclosed will be directed to the acquisition of Bullet, its new products range as well as investing in other capital needs of the company.
Also, to be directed in capital expenditure as market growth, deepening operations, in technology to boost both digital and operational platforms, targets at boosting operational efficiency as a whole.
It will also be deployed to scale and boost operations of Champion Brand, as it hopes to closed the new acquiring of Bullet by November, as it looks towards regulatory certifications.
Leave a Reply
Leave a Reply
