Chams Holding Company Plc has set the stage to raise ₦7.65 billion through a hybrid capital offering, actively combining a Rights Issue and Private Placement to strengthen its balance sheet and accelerate regional expansion.
Shareholder-Backed Approval
Over the weekend, the company hosted the signing ceremony at its Lagos headquarters, marking a pivotal milestone in its ongoing transformation.
Previously, shareholders had unanimously approved both components of the offer during the company’s last Annual General Meeting—demonstrating strong investor support.
Offer Details And Timeline
Now moving forward, Chams will issue 2,348,030,000 ordinary shares at ₦1.70 each to existing shareholders under the Rights Issue.
The offer, structured as one new share for every two held as of June 16, 2025, will run from August 8 to September 12, 2025.
Meanwhile, the Private Placement will launch on September 1 and close alongside the Rights Issue on September 12, 2025.
Driving Growth And Innovation
Speaking at the event, Group Chairman Demola Aladekomo reaffirmed the company’s commitment to long-term value creation.
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He stated, “we structured this offer not just to inject capital but to build lasting investor confidence.
With this raise, we will accelerate innovation, expand our regional presence, and diversify our revenue streams in a sustainable, profitable manner.”
Further explaining the company’s strategy, Group Managing Director Mayowa Olaniyan outlined how Chams plans to deploy the funds.
She said: “We will channel the capital to enhance liquidity, reduce leverage, and improve capital adequacy.
In addition, we aim to boost our EMV and biometric card production, positioning Chams as a leader among certified African card manufacturers.
These funds will also support our expansion into digital identity and secure payment solutions across West and Central Africa.”
In conclusion, Executive Director at Cowry Asset Management, Charles Sanni—the Lead Issuing House—commended the Chams leadership for driving the vision with clarity and urgency.
He noted: “This bold step reflects a clear strategy and the discipline needed to deliver long-term results.”
