Sunbeth Global Concept Limited has successfully received subscriptions of over N220 billion for its N150 billion commercial paper offer. This significant oversubscription represents more than 46.7 per cent above the amount offered. According to a statement issued by the company on October 27, 2026, the funds raised will be used to finance cocoa procurement for the new season and support its trading and working capital requirements.
The commercial paper offer is part of Sunbeth's expansion plans, which include establishing a cocoa processing plant in Nigeria with an annual capacity of 70,000 metric tonnes. This facility is expected to support local value addition and supply cocoa products to both domestic and international markets. Sunbeth is expanding its cocoa sourcing and trading operations while investing in local processing capacity.
Sunbeth's Chief Financial Officer, Adeyemi Aduwo, commented on the offer, stating that the strong subscription reflected investors' confidence in the company and its growth strategy. He noted that the funding would strengthen the company's capacity to procure cocoa as it develops an integrated business covering sourcing, trading, and processing.
The company acknowledged the contributions of Chapel Hill Denham, the lead arranger, and other participating dealers, advisers, and professional partners involved in the issuance. These include AVA Capital Plc, Cordros Advisory Services Limited, Coronation Merchant Bank Limited, FSL Advisory Limited, Meristem Capital Limited, Norrenberger Advisory Partners Limited, PAC Capital Limited, Rand Merchant Bank, CFG Manyard, Absa Nigeria, and Zedcrest.
KPMG provided professional services, while The New Practice served as legal counsel to the transaction. Sunbeth expressed appreciation for the support received from these partners. The company plans to continue strengthening its sourcing network, expanding its international customer base, and developing its processing capacity.
The fundraising comes as Sunbeth continues to expand its presence in the cocoa industry. The company aims to establish itself as a major player in the market, with a focus on sourcing, trading, and processing cocoa. The new processing plant in Nigeria is expected to play a significant role in achieving this goal.
Sunbeth's successful commercial paper offer demonstrates the company's ability to attract investors and raise funds for its growth initiatives. The company is confident that the funds raised will help drive its expansion plans and contribute to the growth of the cocoa industry in Nigeria.
Key points
- Sunbeth Global Concept Limited's commercial paper offer was oversubscribed by N70 billion.
- The funds raised will be used to finance cocoa procurement and support trading and working capital requirements.
- Sunbeth plans to establish a cocoa processing plant in Nigeria with an annual capacity of 70,000 metric tonnes.
