Linkage Assurance Plc Raises N16.2bn from Rights Issue Towards Recapitalisation

Linkage Assurance Plc announces the successful completion of its N16.2 billion Rights Issue, which opened on March 11, 2026 and closed on April 23, 2026.

Following the approval of the Securities and Exchange Commission (SEC) all the shares have been allotted to the subscribers of the issue and the shares have been listed on the Nigerian Exchange Limited (NGX.)

The rights issue was undertaken in response to the NAICOM’s directive on the recapitalisation of insurance companies in Nigeria.

The conclusion of the capital-raising which was fully subscribed reflects the continued confidence of stakeholders in the company’s Board and Management, governance, financial performance and strategic direction.

The company remains committed to full regulatory compliance and prudent risk management. With its strengthened capital base, the company is well positioned to provide more robust service to its teeming customers and deliver sustainable value to stakeholders.

The proceeds from the issue will be used to meet the minimum capital requirement, in compliance with the new regulatory capital requirements, and to implement business expansion in line with the long-term strategic focus of the company.

 

spot_img
spot_img
spot_img
spot_img
spot_img

Hot this week

WEF Plans Inaugural Meeting of Global Future Leaders in Dubai

The World Economic Forum (WEF), in collaboration with the...

WHO Activates Pandemic Hub to Detect New Outbreaks Within 24 hours

The World Health Organisation (WHO) launched a new five-year...

Mary-Brenda’s GenScanAI, Capable of Cutting MRI Scan Time by 90%, Showcased in Lagos

LR: Anne-Marie Palmer-Ikuku, Manager, Corporate Communications and Public Affairs,...

2027: Orodata Raises Concern over AI-Generated Political Influence Ahead of Elections

Orodata, a Nigerian data and civic technology organisation has...

NGX Group Chair, Umaru Kwairanga, Seeks Stronger Partnership with Abu Dhabi Exchange

On an official visit to the United Arab Emirates...

Topics

AMCON Urges Nigerians to Patronise Peugeot Automobiles

Mr. Ben Daminabo, Head, Subsidiaries, Asset Management Corporation of...

UK Corporate Pension Plans End 2016 with $533bn Record Deficit

The total deficit of all U.K. corporate pension funds...

UBA to Raise N239.4bn through Rights Issue

Africa’s Global Bank, United Bank for Africa (UBA) Plc,...

Nominations Now Open for 2024 Almond Insurance Industry Awards

The stage is now set for the 2024 Annual...

Africa, ME Personal Computing Market Reports 12% Growth in 4thQtr 2021

    The Middle East and Africa (MEA) personal computing devices...

Securing Healthcare Industry: Prevention is Better Than Cure

By Rick Rogers, Area Manager for East and West...

VerveLife 5.0 Gears Up for Nairobi, Lagos Events

Following a successful series of Verve Life 5.0 satellite...

The President Nigeria Needs

By Haniel Ukpaukure Nigerians know the president the country does...
spot_img

Related Articles

Popular Categories

spot_imgspot_img