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    Nigerian Breweries Obtains SEC Approval to Commence Rights Issue

    Julius AlagbeBy No Comments1 Min Read
    Nigerian Breweries Obtains SEC Approval to Commence Rights Issue

    Nigerian Breweries Obtains SEC Approval to Commence Rights Issue

    Nigerian Breweries Plc has obtained approval from the Securities and Exchange Commission (SEC) to commence its 22.607 billion ordinary shares of 50k each at N26.50 per share rights issue.

    Mr Uaboi Agbebaku,Company Secretary of Nigerian Breweries, confirmed this in a disclosure sent to the Nigerian Exchange Ltd.(NGX)on Tuesday in Lagos.

    “Nigerian Breweries has obtained the approval of SEC to commence the company’s Rights Issue of 22.607 billion ordinary shares of 50k each at N26.50 per share, “he said.

    Agbebaku said that following the approval, the offer opened on Monday and would close on Oct. 11. He explained that the offering was to existing shareholders on the basis of 11 new ordinary shares for every five ordinary shares held, as at July 12, being the qualifying date.

    “The rights circular will be sent to all shareholders recorded in the register of members as at that date. Shareholders are advised to contact their stockbrokers for more details about the offer, “he said. #Nigerian Breweries Obtains SEC Approval to Commence Rights Issue  CBN Defends Naira with $39m in Forex Market

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    Julius Alagbe is a senior financial journalist and Editor at MarketForces Africa with nearly two decades of experience in finance, accounting, and economics reporting.He is one of Nigeria's most prolific financial market reporters, covering capital markets, monetary policy, corporate earnings, banking, telecoms, and macroeconomic developments across Africa.Julius has built a strong footprint reporting on Nigeria's leading corporates and financial services sector, including coverage of the Nigerian Exchange Group, Central Bank of Nigeria monetary operations, MTN Nigeria, GTCO, and major investment banking transactions.He regularly monitors the CBN’s open market operations, interbank FX markets, and equity market movements, providing readers with real-time intelligence on Nigeria’s financial landscape.His reporting draws on direct access to institutional research from firms including Moody’s Ratings, CardinalStone Securities, Fitch, and other leading African investment houses.Julius brings analytical depth and editorial rigour to every story, making complex financial data accessible to professionals, investors, and policymakers across Africa.Julius Alagbe is based in Lagos, Nigeria.

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