NGX admits N26.69bn worth of Coronation Insurance, three other insurance  companies 

After raising fresh capital to meet the insurance sector’s recapitalisation exercise, the Nigerian Exchange Limited (NGX) has admitted a total of N26.69 billion worth of  Coronation Insurance Plc and three other insurance  companies.

The other insurance companies are  Sovereign Trust Insurance Plc, Sunu Assurances Nigeria Plc,  and Regency Alliance Insurance Plc. 

After a successful Private Placement,  Coronation Insurance listed N9.79 billion worth of shares, while   Sunu Assurances Nigeria  listed N9.34 billion.  Sovereign Trust Insurance and Regency Alliance Insurance listed N5.02 billion and N2.54 billion worth of shares on the Exchange, respectively.    

Coronation Insurance in a notice stated an additional 4,533,624,070 ordinary shares of 50 kobo each of the company were listed on the daily official list of NGX. 

“The additional shares listed on NGX arose from the company’s Private Placement of 4,533,624,070 ordinary shares of 50 Kobo each at N2.16 per share. 

“With the listing of the additional shares, the total issued and fully paid-up share capital of Coronation Insurance have now increased from 23,991,679,506 to 28,525,303,576 ordinary shares of 50 Kobo each,” the company said in a statement. 

Also,  Sovereign Trust Insurance listed 2,510,848,144 ordinary shares of 50 kobo each at N2.00 per share as Sunu Assurances Nigeria admitted 2,075,285,714 ordinary shares of 50 kobo each at N4.50 per share. For Regency Alliance Insurance, it listed 2,674,385,062 ordinary shares of 50 kobo each at N0.95 per share.