SEC approves International Breweries’ 161 billion share rights issue worth N588 billion

International Breweries has announced that it has received approval from the Securities Exchange Commission (SEC) to proceed with is proposed Rights Issue.

This was contained in the company’s notice to the Nigerian Exchange Limited seen by Nairametrics.

The Rights Issue will offer 161,172,395,100 Ordinary Shares at 2 Kobo each, priced at N3.65 per share valued at N588,279 billion.