Why we’re undertaking rights issue – International Breweries

Management team of NGX and International Breweries at the Fact Behind The Rights Issue presentation of the company to capital market stakeholders on Thursday in Lagos

The company noted that its existing shareholders would be able to subscribe based on six new ordinary shares for every existing ordinary share held. The managing director noted that in spite of the challenges in Nigeria’s operating environment, which affected the company’s financial performance in 2023, the country remained a compelling and attractive nation.

Tomlinson stated that the foremost Nigeria brewer had delivered consistent improvement to its gross margin, while its revenue grew from N131.351 billion in 2019 to N218.650 billion in the year 2023 financial year. Chiemeka said that the Exchange encourages all issuers’ interaction with market participants via the Fact Behind The Rights Issue event.

“With the fast-changing macroeconomic environment in Nigeria and globally, we encourage International Breweries to continue to strive for sustainability. International Breweries Plc was founded as a limited liability company in 1972, in Ilesha, Osun State. The Nigerian Education Loan Fund has announced that the application portal is now open. “The NELFUND Student Loan Application Portal is now LIVE! Apply today to secure the financial support you need for your education. Visit http://nelf.gov.ng to get started,” NELFUND disclosed this in a post on Friday. READ ALSO: NELFUND opens application portal…

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