Guinea Insurance Plc (NGX: GUINEAINS) on Monday, March 16, 2026, officially signed documents for a ₦5.8 billion rights issue that is expected to strengthen the company’s capital position and hasten its expansion plans.
The offer involves the issuance of 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 by shareholders.
Speaking at the signing ceremony, Board Chairman Mr. Temitope Borishade described the capital raise as a landmark step in the company’s long-term strategy.
In his statement,
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,”. He also said that “It also reflects 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.
Managing Director Mr. Ademola Abidogun emphasized that the exercise goes far beyond regulatory compliance.
In his words, he said that “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 would create “a stronger company that is better capitalized, more competitive, more innovative, and better positioned to deliver value to its shareholders and protection to its customers.”
Anchtheia Advisory Services Limited, Group Managing Director Mr. Sam Chidoka praised the company’s growth trajectory since inception and urged existing shareholders to fully exercise their rights when the offer opens.
He also encouraged the wider investing public to take advantage of the opportunity by acquiring traded rights on the floor of the exchange.
The company has assured all stakeholders of its commitment to building a stronger, more resilient future while delivering sustainable value.
Administrator and Writer
