WorldStage– Guinea Insurance Plc has announced the successful conclusion of its hybrid offer, comprising a Rights Issue and a Private Placement amounting to ₦12.6 billion.
The company in a notice filed at the Nigerian Exchange signed by Chinenye Nwankwo, Company Secretary, said both transactions were executed in line with regulatory guidelines, with all requisite approvals duly obtained from the Securities and Exchange Commission (SEC).
On progress made in its ongoing recapitalization programme, in compliance with the requirements of the National Insurance Commission (NAICOM), it said when the ₦12.6 billion is aggregated with the Company’s existing paid-up capital, this positions the Company above the ₦15 billion minimum capital requirement prescribed for non-life insurance companies under the ongoing industry recapitalisation framework, subject to final regulatory capital verification.
“This milestone represents a significant step forward in the Company’s recapitalisation journey and underscores its commitment to strengthening its financial position, enhancing underwriting capacity, and delivering long-term value to stakeholders,” the company said.
“The Company wishes to express its sincere appreciation to its shareholders, investors, regulators, and professional advisers for their continued support and confidence throughout the capital raising process.
“The results of the allotment in respect of both the Rights Issue and the Private Placement will be published in the national dailies on or before 6th August 2026, in line with regulatory requirements.
“Guinea Insurance Plc remains committed to completing the recapitalisation process and will continue to keep stakeholders informed of further developments, including the outcome of the capital verification exercise.”
