Guinea Insurance Plc (NGX: GUINEAINS) has received approval from the Securities and Exchange Commission (SEC) for a ₦5.8 billion rights issue as part of efforts to strengthen its capital base ahead of the July 2026 regulatory recapitalisation deadline.
The offer involves 5,295,200,000 new ordinary shares of 50 kobo each at ₦1.10 per share, based on two new shares for every three existing shares held as at the close of business on January 21, 2026.
The rights issue opened on March 25, 2026, and will close on May 1, 2026.
In a press bulletin released on NGX, the company stated that the capital raise will enhance its capacity, support sustained growth, and improve service delivery to its customers.
Shareholders are encouraged to take up their rights fully or partially.
Untaken rights may be traded on the Nigerian Exchange Limited (NGX) during the offer period, subject to regulatory approvals.
This aligns with the National Insurance Commission (NAICOM) requirements, which mandate higher minimum capital for insurers by July 30, 2026.
Administrator and Writer
