Nigerian Breweries Plc has announced that it has received clearance from the Securities and Exchange Commission (SEC) for the allotment of 20,706,894,542 ordinary shares. These shares are priced at ₦26.50 Kobo each as part of its recently concluded Rights Issue, which saw a subscription rate of 91.59%.
First Registrars & Investor Services Limited will manage the process of crediting the Central Securities Clearing System (CSCS) accounts of successful allottees who provided their CSCS account details on their acceptance forms. This is expected to be completed by Wednesday, December 18, 2024.
Furthermore, any surplus subscription funds will be returned by First Registrars no later than December 18, 2024. This date marks five business days after the SEC's clearance of the allotment basis.
For applicants without CSCS accounts, shares will be credited using a Registrar Identification Number (RIN), in accordance with the SEC Directive on Dematerialization of Share Certificates. This process is also expected to be finalized by December 18, 2024.
The company describes itself as "the pioneer and largest brewing company in Nigeria," emphasizing its commitment to high-quality brands and consumer satisfaction.
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