Guinea Insurance Plc has received regulatory approval from the Securities and Exchange Commission to proceed with a ₦5.8 billion rights issue aimed at strengthening its financial position and supporting long-term growth.
The offer involves 5.29 billion ordinary shares of 50 kobo each, priced at ₦1.10 per share. Existing shareholders will be entitled to subscribe on the basis of two new shares for every three shares held as of January 21, 2026. The rights issue opened on March 25, 2026, and is scheduled to close on May 1, 2026.
The company said the capital raise is part of a broader strategy to reinforce its capital base, expand underwriting capacity, and enhance service delivery across its operations. This move aligns with ongoing efforts by insurance firms to meet regulatory capital requirements and remain competitive in Nigeria’s evolving insurance landscape.
Shareholders have the option to fully or partially take up their rights. Unsubscribed rights can be traded on the Nigerian Exchange Limited during the offer period, subject to necessary approvals. Detailed participation guidelines, including acceptance and payment procedures, are outlined in the rights circular distributed to shareholders.
Market observers note that successful execution of the offer could improve Guinea Insurance’s balance sheet resilience and position it for stronger market participation, particularly as the industry continues to consolidate and recapitalize.
