AIICO Insurance to Raise N4.3 Billion Through Rights Issue

AIICO Insurance Seeks Approval for N4.3 Billion Rights Issue Listing

AIICO Insurance Plc is seeking the approval of the Nigerian Stock Exchange for the listing of a Rights Issue of Four Billion, Three Hundred and Fifty-Seven Million, Seven Hundred and Seventy Thousand, Nine Hundred and Fifty Four (4,357,770,954) ordinary shares of Fifty Kobo (N0.50) each at Eighty Kobo (N0.80) per share, on the basis of five (5) new ordinary shares for every thirteen (13) ordinary shares held.

In the statement released on the Nigerian Stock Exchange website and signed by Godstime Iwenekhai, Head, Listings Regulation, the company said “Dealing Members are hereby notified that AIICO Insurance Plc has through its Joint Stockbrokers, Magnartis Finance and Investment Limited and Stanbic IBTC Stockbrokers Limited, submitted an application to The Nigerian Stock Exchange for the approval and listing of a Rights Issue of Four Billion, Three Hundred and Fifty Seven Million, Seven Hundred and Seventy Thousand, Nine Hundred and Fifty Four (4,357,770,954) ordinary shares of Fifty Kobo (N0.50) each at Eighty Kobo (N0.80) per share, on the basis of five (5) new ordinary shares for every thirteen (13) ordinary shares held.

“The Qualification Date for the Rights Issue is today Monday, 15 June 2020.

“Please note that this market bulletin supersedes the previous one issued.”