International Breweries Plc (IBPLC), a member of AB InBev, has launched a rights issue offer of 161,172,395,100 shares to its shareholders at the offer price of N3.65 per share.
The rights being offered, which will close on June 10 2024 are six new Ordinary Shares for every one Ordinary Share held as of May 2, 2024. Each Ordinary Share holds an equity value of two (2) kobo.
This offer, which was launched on Tuesday, will enable shareholders to consolidate their ownership of the company and optimise their future profitability.
IBPlc, the world’s largest brewer with over 500 brands, is the producer of endearing beverage brands such as Trophy Lager, Budweiser, Hero Lager, Trophy Extra Stout, Flying Fish, Castle Lite, Beta Malt, Grand Malt, amongst others.
Shareholders will have ample time to participate in the offer as the acceptance list for the rights issue opened May 21, 2024 and closes June 10, 2024.
The Finance Director, International Breweries Plc, David Tomlinson, speaking on the issue said, “We are pleased to announce the International Breweries Plc rights issue offering, which presents a convincing opportunity for our valued shareholders to further participate in the growth and success of our company. With a rights ratio of six new Ordinary Shares for every one held, and an offer price of N3.65 per share, we aim to provide our shareholders with access to additional equity at an attractive valuation.”
“This offering underscores our commitment to creating value for our shareholders while fortifying our position in the Nigerian beverage industry.
We encourage all shareholders to seize this opportunity to participate in the growth story of our dynamic business. Together, we will continue to brew success, deliver long-term value for our shareholders and create a future with more shares.” He concluded.
The shareholders are to note that the rights being offered are tradable on the floor of the Nigerian Exchange Limited for the duration of the rights issue, ensuring liquidity and accessibility. To participate in the offer, shareholders are requested to download the form from the following official channels: www.registrars.apel.com.ng; www.international-breweries.com, and www.chapelhilldenham.com.
International Breweries had in February 12, 2024 received the approval of shareholders during an Extra-Ordinary General Meeting (EGM) to commence the Rights Issue which it plans to utilise to deleverage the Company. At the February EGM, shareholders expressed anticipation for the commencement of the rights issue so they could save to buy more shares noting that the full payment of IBPLC’s loan will support the company’s growth drive.
Despite the challenging economic landscape, International Breweries said it has persevered as a progressive concern and remains committed to diligently activating measures to transform its fortunes into a profitable enterprise to the admiration of its shareholders.