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AIICO Insurance launches additional 4.4 billion shares on NSE

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AIICO

AIICO Insurance Plc has unveiled additional shares on the trading platform of the Nigerian Stock Exchange (NSE).

Techeconomy.ng gathered that the new stocks were from the rights issue of the insurance company. A piece of information revealed that the underwriter recently offered to its shareholders 4,357,770,954 ordinary shares.

The total issued and fully paid-up shares of AIICO Insurance increased to 20,673,265,406 ordinary shares of 50 kobo each from 16,315,494,452 ordinary shares of 50 kobo each.

According to a statement sent to stockbrokers at the market confirmed by the NSE, “Dealing members are hereby notified that additional 4,357,770,954 ordinary shares of AIICO Insurance Plc were today, Tuesday, December 29, 2020, listed on the daily official list of the Nigerian Stock Exchange.

“The additional shares listed on the exchange arose from the company’s rights issue of 4,357,770,954 ordinary shares of 50 kobo each at 80 kobo per share on the basis of five new ordinary shares for every 13 ordinary shares held as at Monday, June 15, 2020.

“The rights issue was 100 percent subscribed. With this listing of the additional 4,357,770,954 ordinary shares, the total issued and fully paid-up shares of AIICO Insurance has now increased from 16,315,494,452 to 20,673,265,406 ordinary shares of 50 kobo each.”

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