L-R: Managing Director, APT Securities and Funds Limited, Kasimu Kurfi; Group Chief Financial Officer, Charms HoldCo PLC, Adeoye Onaderu; Group Executive Director, Dr Femi Oyenuga; Group Managing Director, Mayowa Olaniyan, Group Chairman, Sir Demola Aladekomo; Company Secretary, Oluwaseun Osuji; Non-Executive. Director, Dumebi Obodo; Non-Executive Director, Alh. Yusufu Modibbo; Group Executive Director, Cowry Asset Limited, Charles Sanni, and Director, Capital Express, Pius Nkemka during the Signing Ceremony of Chams HoldCos’ offer of Rights and Private Placement in Lagos at weekend
By Chinwendu Obienyi
In its bid to scale its operations across West and Central Africa and strengthen its capital base, Chams Holding Company Plc has stated that it intends to raise N7.9 billion through a hybrid offer.
The capital raise, a combination of a Rights Issue and Private Placement, was formally launched over the weekend at a signing ceremony held at the company’s headquarters in Lagos. The move follows unanimous shareholder approval secured at the firm’s most recent Annual General Meeting (AGM).
Under the Rights Issue component, Chams HoldCo will offer 2,348,030,000 ordinary shares of 50 kobo each at N1.70 per share. The offer is structured on the basis of one new share for every two held by existing shareholders as of June 16, 2025. The Rights Issue will open on Friday, August 8, and close on Friday, September 12, 2025.
The private placement, which targets institutional and high-net-worth investors, will run concurrently, opening on Monday, September 1, and closing on September 12, 2025.
Speaking at the event, Group Chairman, Chams Holdco, Sir Demola Aladekomo said the hybrid offer is pivotal to the company’s strategic transformation and long-term positioning.
“This capital raise is not only about strengthening our balance sheet; it’s about delivering long-term investor confidence. It supports our transformation programme to scale innovation, expand regionally, and build a more resilient, diversified business”, Aladekomo stated.
Providing further insights into the company’s deployment plans, the Group Managing Director, Chams Holdco, Mayowa Olaniyan, explained that proceeds from the offer would be used to enhance capital adequacy, reduce debt, and improve liquidity.
“We are investing in our EMV and biometric card production capabilities, positioning Chams as a top-tier certified card manufacturer on the continent,” Olaniyan stated. “In addition, this funding will help us expand our digital identity, verification, and secure payment solutions across West and Central Africa.”
Olaniyan added that the capital raise aligns with broader efforts to tap into Africa’s growing demand for secure digital services, particularly in the financial, public, and identity sectors.
Commending Chams’ leadership for initiating a well-structured capital raise with a clear regional growth agenda, Executive Director at Cowry Asset Management, Charles Sanni, said, “This hybrid offer is a smart move at the right time. It gives Chams the financial muscle to execute its strategy while creating value for investors and customers alike.”
Chams HoldCo, a pioneer in identity management and digital payments, is positioning itself to become a leading force in Africa’s evolving fintech and secure technology space.
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