Nigerian Breweries Plc has unveiled plans to raise up to N600 billion through a rights issue to address the debt challenges posed by the Naira devaluation and high borrowing costs.
The Company Secretary, Uaboi Agbebaku, made this known in a notification sent to the Nigerian Exchange Ltd. (NGX) in Lagos recently.
Agbebaku stated that the aim was to strengthen its balance sheet and reduce debt burden highlighted by a net loss of N106 billion in 2023.
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