International Breweries Lists Another 18.3 Billion Shares on NSE

By Modupe Gbadeyanka

Nigerian beer maker, International Breweries Plc, has listed additional ordinary shares of the company on the trading platform of the Nigerian Stock Exchange (NSE).

The fresh equities were those issued to existing shareholders of the firm during a rights issue exercise concluded recently to raise fresh capital.

According to a circular issued by the NSE and signed by its Head of Listings Regulation Department, Mr Godstime Iwenekhai, the number of additional stocks admitted on the main board last Friday were 18.3 billion units.

They were sold to members of the brewery giant already on its register as at the close of business on Wednesday, November 6, 2019 at N9 each on the basis of 17 new ordinary shares for every right ordinary shares held.

The issuance and eventual listing of these shares have increased the total issued and fully paid up shares of International Breweries Plc to 26,862,068,550 ordinary shares of 50 kobo each from 8,595,861,936 ordinary shares of 50 kobo each.

“Dealing members are hereby notified that additional 18,266,206,614 ordinary shares of International Breweries Plc were today, Friday, February 7, 2020, listed on the daily official list of the Nigerian Stock Exchange.

“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 eight ordinary shares held as at November 6, 2019.

“With this listing of the additional 18,266,206,614 ordinary shares, the total issued and fully paid up shares of International Breweries Plc has now increased from 8,595,861,936 to 26,862,068,550 ordinary shares of 50 kobo each,” the disclosure from the stock exchange last weekend stated.