The Nigerian Exchange Limited (NGX) has listed 141.43 billion ordinary shares of International Breweries Plc, each with a nominal value of 2 Kobo, at an offer price of N3.65 per share.
This development was disclosed in the NGX’s weekly report, as reported by NewsNGR.
The listing was based on a rights issue, offering six new ordinary shares for every existing one ordinary share held as of May 2, 2024.
The additional shares on the NGX resulted from the company’s rights issue of 161,172,395,100 ordinary shares, each with a nominal value of 2 Kobo at N3.65 per share. The rights issue was 87.75 per cent subscribed.
With the listing of the additional 141,429,525,556 ordinary shares, the total issued and fully paid-up shares of International Breweries Plc have increased from 26,862,065,850 to 168,291,591,406 ordinary shares, each with a nominal value of 2 Kobo.
The statement reads:
“Trading Licence Holders are hereby notified that additional 141,429,525,556 ordinary shares of 2 Kobo each at N3.65 per share of International Breweries Plc (International Breweries or the Company) were on Wednesday, 21 August 2024, listed on the Daily Official List of Nigerian Exchange Limited (NGX).
The additional shares listed on NGX arose from the Company’s Rights Issue of 161,172,395,100 ordinary shares of 2 Kobo each at N3.65 per share (The offer was 87.75 per cent subscribed).
With the listing of the additional 141,429,525,556 ordinary shares, the total issued and fully paid up shares of International Breweries has now increased from 26,862,065,850 to 168,291,591,406 ordinary shares of 2 Kobo each”.
International Breweries Plc posted its financial result for the second quarter of 2024, recording a pre-tax loss of N61.8bn.
This represents a decline from the N89.35bn pre-tax loss recorded in the first quarter of the year.
When compared to the corresponding quarter of the previous year, the company’s losses rose from N37.31bn in Q2, 2023.
However, in the first half of 2024, International Brewery Plc posted pre-tax losses amounting to N150.23bn – an increase of 262.6 per cent when compared to the N41.43bn recorded in the first six months of 2023.