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Business

After Five Consecutive Years Of Losses, International Breweries Gets SEC Approval To Raise N588bn

International Breweries Plc has received approval from the Securities and Exchange Commission to raise funds through the right issue of 161,172,395,100 to existing shareholders.The...

Business

Int’l Breweries seeks shareholders’ consent to convert $379.9m debt to equity

International Breweries Plc will at an Extra-ordinary General Meeting (“EGM”) to take place on April 9, 2024 seek shareholders’ approval to convert an intercompany...

Business

After Six Years Of Posting Losses, International Breweries Shareholders Meet To Raise Additional Capital

International Breweries Plc has approved the raising of emergency additional capital after posting losses since 2018.After publishing its financials statement for 2023, the company...

Business

Over 370 Workers Exit Nigerian Breweries As Dollar Scarcity Pushes Company’s Loss To N106.3bn

Nigerian Breweries Plc’s workforce has been reduced by 380 workers as the brewer struggled with the loss induced by surging cost and the naira...

Business

Despite Six Years Of Unprofitability, International Breweries Spends N71bn On ‘Other Expenses’

The directors of International Breweries Plc are still hopeful that the company will continue as a going concern after 2023 despite sustaining losses for...

Business

International Breweries records N21.28 billion loss in three months

The second quarter of 2023 wasn’t a great period for International Breweries, as the brewer saw its loss increase significantly between April to June.In...

Business

MTN Nigeria, MRS Oil, and International Breweries are stocks to watch this week

This week’s stocks to watch list for this week include MTN Nigeria, MRS Oil, and International Breweries. The companies made the cut due to...

Business

International Breweries appoints Ayokunle Ayoko as Company Secretary

International Breweries Plc has announced the appointment of Ayokunle Ayoko as Company Secretary/General Counsel with effect from Monday, 16 January 2023 following the exit...

Business

INDUSTRY REVIEW: Losses, unfriendly business environment hit Guinness, Nigerian Breweries, IB, Champion Brew

The brewery industry is struggling to curb the cost of operations, and this is affecting the net profit of the sector. As the former...

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