Follow Us on Google
By Henry Uche
Guinea Insurance Plc has officially signed its Rights Issue, comprising 5,295,200,000 ordinary shares of 50 kobo each at N1.10 per share on the basis of two new shares for every three existing shares held.
This is driven by a strategic move to drive expansion and long-term value. Speaking at the event, the Board Chairman, Mr. Temitope Borishade, expressed optimism about the offer, noting that it represents a major step in the company’s long-term vision of scaling up operations, driving innovation, and delivering greater value to shareholders.
“This capital raise represents an important step in repositioning the Company to meet these realities while expanding our capacity to deliver innovative insurance solutions across key sectors of the economy.
“It also represents our commitment to our customers and brokers that our company is repositioning to offer new and improved services, and to our shareholders that the returns on their investments are about to improve significantly”, he said.
The Managing Director, Mr. Ademola Abidogun in a remark highlighted that the capital raise was not merely about compliance with regulatory capital requirements, but it is fundamentally about building a stronger platform for growth, innovation, and long-term value creation. He further highlighted the impact of the capital raise to the company
Other News
“The additional capital will strengthen Guinea Insurance’s financial stability and regulatory compliance, expand underwriting capacity across key sectors of the Nigerian economy, support investments in technology and operational efficiency, and enable greater expansion into the underpenetrated retail and SME insurance markets to drive growth and financial inclusion”.
He added that the transaction represents a strategic step towards building a stronger company that is better capitalised, more competitive, more innovative, and better positioned to deliver value to its shareholders and protection to its customers.
In his address at the event, the Group Managing Director of Anchoria Advisory Services Limited, Mr. Sam Chidoka, who represented the Lead Issuing House, emphasized the commendable growth trajectory of Guinea Insurance Plc from its inception to date.
He urged shareholders to take up their rights once the offer opens and encouraged the wider investing community to take advantage of the opportunity presented by the offer by locking in through traded Rights.
The Company further encouraged all shareholders and investors to participate in the offering as it advances its growth journey and remains committed to building a stronger, more resilient future while delivering sustainable value to all stakeholders.
