Champion Breweries Plc has announced plans to address its free-float deficiency by issuing new shares to the public on the Nigerian Exchange (NGX) Limited in the first quarter of 2025.
Speaking at the company’s Facts Behind the Figures Presentation at the NGX in Lagos, the Managing Director, Mr Inalegwu Adoga, said, “This initiative is expected to bolster the company’s infrastructure and enhance its production capacity, enabling it to meet the growing demand for its products.”
He assured shareholders and the entire capital market community of enhanced dividends in spite of the tough operating environment.
He said the company’s focus remained on returning value to shareholders, saying the company had embarked on successful implementation of cost-saving measures, including shift to renewable energy and localisation of supply chains to enhance profitability.
Mr Adoga said the company would prioritise action on renewable energy solutions by investing in progressive decarbonisation of its business.
He added that the company would reduce its cost profile to remain competitive in the industry, saying that it was the only listed Nigerian brewery brand that reported a profit in the 2023 financial year.
