Nigerian Breweries Plc has announced the listing of 20,706,894,542 new ordinary shares on the Nigerian Exchange Limited (NGX), following the successful completion of its rights issue.

The new shares, which were listed on Monday, December 30, 2024, have increased the company’s total outstanding shares from 10,276,132,378 to 30,983,026,920.

The rights issue, which was oversubscribed, involved the issuance of 22,607,491,232 ordinary shares of 50 Kobo each at N26.50 per share.

The listing of the new shares on the NGX is expected to provide liquidity to shareholders and enhance the company’s capital base.

With this development, Nigerian Breweries Plc has further cemented its position as one of the largest quoted companies on the NGX.

The company’s management has expressed its gratitude to shareholders for their support and confidence in the company’s prospects.