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AIICO Insurance lists 4.4 billion shares on NSE

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AIICO Insurance Plc has listed its additional shares on the trading platform of the Nigerian Stock Exchange (NSE).
The new stocks were from the company’s recently concluded rights issue when shareholders were offered the option of purhcasing 4,357,770,954 ordinary shares.

The total issued and fully paid-up shares of AIICO Insurance increased to 20,673,265,406 ordinary shares of 50 kobo each from 16,315,494,452 ordinary shares of 50 kobo each.

According to a statement from AIICO, “Dealing members are hereby notified that additional 4,357,770,954 ordinary shares of AIICO Insurance Plc were today, Tuesday, December 29, 2020, listed on the daily official list of the Nigerian Stock Exchange.

“The additional shares listed on the exchange arose from the company’s rights issue of 4,357,770,954 ordinary shares of 50 kobo each at 80 kobo per share on the basis of five new ordinary shares for every 13 ordinary shares held as at Monday, June 15, 2020.

“The rights issue was 100 percent subscribed. With this listing of the additional 4,357,770,954 ordinary shares, the total issued and fully paid-up shares of AIICO Insurance has now increased from 16,315,494,452 to 20,673,265,406 ordinary shares of 50 kobo each.”

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