Following the successful execution of its rights issue, the largest equity offering in the Nigerian capital market, International Breweries Plc (IBPLC), has assured its investors and stakeholders of its continuous commitment to the sustainable growth of the company.
According to Achebe, “the elimination of our FX exposure will improve IBPLC’s cash flows and will support the company’s return to profitability.
A key highlight was the successful Rights Issue of 161,172,395,100 shares, generating net proceeds of ₦581.7 billion.
The fact that the company has repaid its loan with funds from the Rights Issue is a significant achievement.
With approval from the Securities and Exchange Commission (SEC) on the basis of allotment, the Rights Issue has been completed, marking a transformative moment for IBPLC.
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