International Breweries Plc has said the capital raised from the sale of 161.17 billion shares through rights issue will be used to settle a dollar-denominated loan.
Carlos Coutino, Managing Director (MD) of International Breweries said, while speaking during the presentation of ‘Facts Behind The Rights Issue’ to capital market stakeholders at the Nigerian Exchange Limited (NGX) in Lagos.
It will be recalled that on May 22, International Breweries said it would offer 161,172,395,100 ordinary shares at N3.65 per share to existing shareholders to raise N588.27 billion.
Coutino said settling International Breweries’ debt through rights issue would reduce the effect of the foreign…
Source: Nigerian Tribune
