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DF Holdings Limited has raised its stake in AIICO Insurance Plc via the acquisition of AIICO shares valued at over N555 million.
DF Holdings Limited a majority shareholder in AIICO Insurance Plc purchased 474,603,596 Ordinary Shares of AIICO Insurance Plc at N1.17k per share on 31 December 2020 according to a filing to the Nigerian Stock Exchange.
Read: Share Buy-Back: Dangote Cement Plc acquired over N9.7bn worth of shares
As at 31 December 2018, DF Holdings Limited held 22.00% (1,524,650,716 units) of AIICO Insurance Plc shares.
According to the Register of Members at December 31, 2018, no shareholder held more than 5% of the issued share capital of the Company except DF Holdings (22.00%) and AIICO Investment Inc which held 12.83%.
At the close of trading on Monday the equity price AIICO flat at N1.12 per share.
About AIICO Insurance Plc
AIICO Insurance Plc was established in 1963 by American Life Insurance Company and was incorporated in 1970. It was converted to a Public Liability Company in 1989 and quoted on the Nigerian Stock Exchange (NSE) in December 1990.
The Company was registered by the Federal Government of Nigeria to provide insurance services in Life Insurance Business, Non-Life Insurance Business, Deposit Administration and Financial Services to organizations and private individuals. Arising from the merger in the insurance industry, AIICO Insurance Plc acquired Nigerian French Insurance Plc and Lamda Insurance Company Limited in February 2007.
The Company currently has its corporate head office at Victoria Island, Lagos with branches spread across major cities and commercial centres in Nigeria
By: Ifunanya Ikueze
