How to Buy International Breweries Shares in Nigeria (INTBREW)

International Breweries Plc shares trade on the Nigerian Exchange (NGX) under the ticker INTBREW and are bought through a SEC-registered stockbroker or an investment platform connected to one. You need a verified account, a CSCS account with a Clearing House Number (CHN) in your own name, and naira funds. Trades settle on T+1, when the shares are credited to your CSCS account.

What Is International Breweries and Is It Listed on the NGX?

International Breweries Plc is a Nigerian brewery and beverage company. It produces and sells lager beers, malt drinks and non-alcoholic beverages, with brands that include Trophy Lager, Hero Lager, Beta Malt and Grand Malt. It is listed on the NGX under the symbol INTBREW, in the consumer goods sector.

It is one of several brewers quoted on the Exchange. Nigerian Breweries, Guinness Nigeria and Champion Breweries are separate listed companies with their own tickers, so a search for "breweries" on a trading screen returns more than one result. Information about who owns International Breweries and its ties to any international brewing group belongs in the annual report and on the NGX company page, and that is where to look for the up-to-date position.

What You Need Before You Buy International Breweries Shares

• A verified account with a SEC-registered stockbroker or a connected investment platform
• A valid ID, BVN and proof of address
• A CSCS account and CHN in your own name
• A Nigerian bank account in your own name
• Naira for the shares and the transaction charges

How to Buy International Breweries Shares: Step by Step

Set up the account and CHN

Open an account, complete verification, and have the broker open or link your CSCS account. Shares Saver works with Crown Capital Limited, an NGX trading licence holder, and shares are registered in the investor's own name in the CSCS.

Fund the account

Send naira by bank transfer from an account in your own name. Allow for the charges as well as the value of the shares, so that the order is not rejected for insufficient funds.

Find INTBREW, not another brewer

Type the ticker INTBREW and confirm the name International Breweries Plc. Searching by ticker is more reliable than searching by the word "breweries", which also matches other listed companies.

Decide the quantity and order type

Share prices on the NGX range from a few naira to well over a thousand naira per share. When the price per share is low, a given budget translates into a large number of shares, and the order may be matched against several sellers at slightly different prices. A market order accepts whatever prices are available until it is filled. A limit order fixes the maximum price per share, and any part that cannot be matched at that price waits in the market.

Submit, settle and verify

Orders are matched during the NGX session, 9:00 to 16:00 WAT on business days. After execution you receive a contract note showing the quantity, the average price and the charges. The shares reach your CSCS account on T+1. Check them under your CHN, then lodge an e-dividend mandate with the registrar.

Costs and Fees to Expect

The charges on an INTBREW purchase are of the same types as on any NGX trade: the broker's commission, statutory and market fees payable to the SEC, the NGX and the CSCS, and stamp duty where it applies. A platform may add its own subscription or service fee.

Commission and most statutory fees are worked out on the value of the trade, not on the number of shares, so buying many low-priced shares does not by itself cost more than buying a few high-priced ones of the same total value. A minimum commission, if your broker has one, is the item that affects small orders. The fee schedule and the contract note are the documents to check.

International Breweries Dividends, Rights Issues and the Registrar

A company pays dividends only out of distributable profits and only when the board proposes one. Brewers carry heavy costs for imported inputs, energy and debt service, and there can be long periods in which no dividend is declared. Dividends are not guaranteed. The NGX company page for INTBREW and the annual report show what has been declared in recent years. Any dividend is paid after 10% withholding tax.

Listed companies sometimes raise new capital from existing shareholders through a rights issue. If that happens, the registrar sends each shareholder a rights circular stating how many new shares they may take up, at what price and by what date. Taking up rights is optional. The registrar, named on the NGX company page and in the annual report, also handles e-dividend mandates and changes of address.

Things Investors Commonly Research About International Breweries

People looking into a brewer usually read about the following. The list is for information and carries no opinion.

• Beer and malt drink volumes and selling prices
• Input costs: malt, hops, packaging and energy
• Foreign currency exposure, including borrowings and imported materials
• Excise duty and other taxes on alcoholic and non-alcoholic drinks
• Competition among the listed and unlisted brewers
• Debt levels, finance costs and any capital raising
• Results and corporate actions announced on the NGX

Frequently Asked Questions

What is the NGX ticker for International Breweries?

International Breweries Plc trades under the ticker INTBREW.

Is International Breweries the same company as Nigerian Breweries?

They are different companies with separate NGX listings. International Breweries trades as INTBREW and Nigerian Breweries trades as NB. Guinness Nigeria and Champion Breweries are also listed separately. Shares in one carry no rights in any of the others.

Why did my INTBREW order execute at more than one price?

A large market order is matched against the sell orders in the queue, starting with the lowest price. If the first seller does not have enough shares, the rest is filled from the next seller at the next price. The contract note shows the average. A limit order prevents any part from executing above your chosen price.

Do I have to take part if the company announces a rights issue?

Participation is voluntary. A shareholder can take up the rights in full, take up part, or let them lapse, and rights are sometimes tradable on the NGX during the offer period. The rights circular sets out the terms and deadlines. Shareholders who do not take up their rights end up owning a smaller percentage of the enlarged company.

Can I buy International Breweries shares if I live abroad?

Nigerians in the diaspora can open an account online with a provider that accepts remote onboarding and can complete the BVN and identity checks. Purchases are made in naira and the shares are held in a CSCS account in the investor's own name.

How do I sell INTBREW shares?

Enter a sell order with a broker that has access to your CSCS account. The trade settles on T+1 and the proceeds, net of charges, go to your investment account. How quickly a sale completes depends on the buyers in the market at your price.