INTERNATIONAL BREWERIES OPENS RIGHTS ISSUE TO NON-SHAREHOLDERS
International Breweries Plc, part of AB InBev, has allowed non-shareholders to participate in its rights issue. Non-shareholders can acquire traded rights on the Nigerian Exchange through stockbrokers. The company launched a 161,172,395,100 rights issue last month, offering six new shares for every existing share at N3.65 each. This rights issue, which began on May 21, 2024, will close on June 10, 2024.
The net proceeds from the rights issue will be used to settle the company's US dollar-denominated loan and provide working capital support. David Tomlinson, the Finance Director, emphasized the company’s commitment to creating sustainable value and strengthening its position in the Nigerian beverage industry. The rights' tradability on the Nigerian Exchange ensures liquidity and accessibility for shareholders throughout the offer.
International Breweries Plc, part of AB InBev, has allowed non-shareholders to participate in its rights issue. Non-shareholders can acquire traded rights on the Nigerian Exchange through stockbrokers. The company launched a 161,172,395,100 rights issue last month, offering six new shares for every existing share at N3.65 each. This rights issue, which began on May 21, 2024, will close on June 10, 2024.
The net proceeds from the rights issue will be used to settle the company's US dollar-denominated loan and provide working capital support. David Tomlinson, the Finance Director, emphasized the company’s commitment to creating sustainable value and strengthening its position in the Nigerian beverage industry. The rights' tradability on the Nigerian Exchange ensures liquidity and accessibility for shareholders throughout the offer.