Trading in the rights issue of Linkage Assurance Plc (NGX: LINKASSURE) has officially commenced on the Nigerian Exchange Limited, giving existing shareholders the opportunity to subscribe for additional shares in the company.
In a market bulletin issued by the exchange, trading licence holders were informed that trading in the company’s rights issue opened on Wednesday, March 11, 2026.
The offer involves 12.32 billion ordinary shares of 50 kobo each priced at N1.32 per share, and is being offered to shareholders on the basis of two new shares for every three existing ordinary shares held as of the qualification date of January 22, 2026.
The rights issue has been admitted for trading under the symbol “LINKAGE ASSURANCE PLC 2026 RIGHTS” with the code RR26LINKAS, allowing shareholders who received the rights to trade them on the exchange during the offer period.
The offer opened on March 11, 2026 and is scheduled to close on April 23, 2026.
Earlier, the company had applied to the exchange for the approval and listing of the rights issue through its stockbrokers, Apel Asset Limited and Capital Express Securities Limited, as part of efforts to raise additional capital from existing shareholders.
If the rights issue is fully subscribed, the company’s total outstanding shares will increase significantly.
The company currently has about 18.48 billion shares outstanding. The issuance of 12.32 billion additional shares would therefore raise the total number of shares to roughly 30.8 billion shares, representing a substantial expansion of the company’s equity base.
The stock closed at N1.60 per share on Thursday on the Nigerian Exchange, the rights issue price of N1.32 per share represents a discount of about 17.5% to the market price.
Such a discount is typical for rights issues as it encourages participation by existing shareholders and increases the likelihood that the offer will be fully subscribed.
However, the discount may also influence short-term trading in the stock as the market adjusts to the expected increase in the company’s total shares after the capital raise.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
