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Business News of Saturday, 8 February 2020

Source: www.mynigeria.com

International Breweries lists additional 18.2bn shares on the NSE

International Breweries building International Breweries building

International Breweries Plc has listed an additional 18,266,206,614 ordinary shares of 50 Kobo each at N9.00 per share on the Nigerian Stock Exchange.

In a notice filed by the firm to the Nigerian Bourse, the additional shares were listed yesterday, Friday, February 7th, 2020, on the Daily official list of the NSE.

The additional shares listed on The Exchange arose from International Breweries’ Rights Issue of 18,266,206,614 ordinary shares of 50 kobo each at N9.00 per share on the basis of 17 new ordinary shares for every 8 ordinary shares held as at 6 November 2019.

With this listing of the additional 18,266,206,614 ordinary shares, the total issued and fully paid-up shares of International Breweries has now increased from 8,595,861,936 to 26,862,068,550 ordinary shares of 50 kobo each.

International Breweries Plc was incorporated in December 1971 by its founder and first Chairman, Dr. Lawrence Omole under the name International Breweries Limited. The Company commenced production of its flagship product Trophy Lager in December 1978 with an installed capacity of 200,000 hectoliters per annum.

Following the increasing demand for its products, in December 1982 the Company embarked on an expansion programme to increase its capacity to 500,000 hectoliters annually. The company was listed on the floor of the Nigerian Stock Exchange in April 1995.