The management of Champion Breweries Plc has revealed that its ongoing N16 billion rights issue will support its strategic acquisition of the Bullet brand portfolio and strengthen its pan-African growth platform.

The offer comprises 994,221,766 shares at N16.00 per share, which opened on November 24, 2025, and closes on January 5, 2026. The shares remain available for subscription to existing shareholders as of the qualification date of September 4, 2025.

The company stated that this capital raise marks the first phase of it's strategic funding plan to support the proposed acquisition of the Bullet brand portfolio (subject to regulatory approval) to strengthen its pan-African growth platform.

It added that the net proceeds from the rights issue would be applied towards partial payment for the settlement of the acquisition of all brand assets and intellectual property of the Bullet range of ready-to-drink beverages.

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Speaking, the Managing Director, Champion Breweries, Dr Inalegwu Adoga, in a statement said, "we are pleased with the progress of our rights issue and the strong engagement from our shareholder community.

"This exercise allows existing investors to participate directly in Champion's next chapter, combining nearly 50 years of heritage with a fast-growing pan-African platform."

On his part, the Group Managing Director, EnjoyCorp, David Butler in a statement added that, "This rights issue reflects Champion's continued commitment to disciplined, sustainable growth. The Bullet asset carve-out structure will provide immediate scale and FX earnings without heavy upfront investment. Our existing shareholders remain central to this transition."