Champion Breweries Plc has opened a ₦42 billion Public Offer of ordinary shares, priced at ₦16.00 per share, to finance the acquisition of the Bullet brand portfolio.
The offer, which follows approvals from the Securities and Exchange Commission (SEC) and Nigerian Exchange Limited (NGX), opened on Thursday, January 8, 2026, and will close on January 21, 2026, according to a company statement.
Champion said the net proceeds from the Public Offer, together with funds raised from its recently completed Rights Issue, will be used mainly to acquire the Bullet brand portfolio through an asset carve-out arrangement. The deal will transfer ownership of Bullet’s brands, trademarks, recipes and commercial rights across its African markets to Champion.
Additional funds will support working capital and growth initiatives, including route-to-market expansion, marketing, product innovation and capacity expansion.
The Public Offer represents the second phase of Champion’s two-step capital-raising programme, following the successful ₦15.9 billion Rights Issue offered to existing shareholders. Combined, the two fundraising exercises are expected to strengthen the company’s balance sheet and support its expansion across Africa.
The company said the offer provides both institutional and retail investors with an opportunity to participate in its next phase of growth as it scales its beverage portfolio beyond Nigeria.
Offer details
- Offer size: ₦42 billion
- Structure: 2.625 billion ordinary shares of 50 kobo each
- Offer price: ₦16.00 per share
- Offer opens: January 8, 2026
- Offer closes: January 21, 2026
- Listing: Nigerian Exchange Limited (NGX)
- Receiving bank: Access Bank
Applications can be submitted through approved receiving agents listed in the Prospectus or electronically via the NGX Invest platform.
Commenting on the offer, Dr Inalegwu Adoga, Managing Director of Champion Breweries Plc, described it as a key milestone in the company’s growth journey.
“The opening of our Public Offer is an invitation for investors to share in the next phase of Champion’s growth. With the Bullet acquisition, we are combining nearly 50 years of brewing heritage with a proven pan-African RTD and energy drink platform,” he said.
Also speaking, David Butler, Group Managing Director of enJOYcorp, said the asset carve-out structure would enable rapid expansion and foreign-exchange earnings without heavy capital investment.
The Public Offer is led by Rand Merchant Bank Nigeria Limited as Lead Issuing House, alongside several joint issuing houses. Investors are advised to review the Prospectus carefully and consult their financial advisers before subscribing.
