AIICO Insurance, Prestige Assurance announce new shares listing

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By Kayode Tokede

AIICO Insurance Plc and Prestige Assurance Plc have announced listing of additional shares on the Nigerian Stock Exchange (NSE).

AIICO Insurance said it listed additional 4,357,770,954 Ordinary Shares of 50 Kobo on the Daily Official List of the NSE last Tuesday.

The company in a notice said, “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 5 new ordinary shares for every 13 ordinary shares held as at Monday, 15 June 2020. The Rights Issue was 100per cent subscribed.

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

Also, Prestige Assurance said it listed additional 6,891,365,187 Ordinary Shares of 50 Kobo  on the Daily Official List of the NSE on last Wednesday.

The company added that, “The additional shares listed on The Exchange arose from the Company’s Rights Issue of 13,635,796,006 ordinary shares of 50 kobo each at 50 Kobo per share on the basis of 38 new ordinary shares for every 15 ordinary shares held as at Friday, 31 January 2020. The Rights Issue was 50.54per cent subscribed.”