SUNU Assurances N3.01bn private placement 100% subscribed

SUNU Assurances N3.01bn private placement fully subscribed

Sunu Assurances Nigeria Plc said its private placement exercise was 100 per cent.

Samuel Ogbodu, the managing director of the company, disclosed this in a statement on Saturday titled ‘SUNU Assurance achieves 100 per cent subscription on N3.01b private placement’.

He said the private placement exercise of 3,010,800,000 ordinary shares of 50 kobo each at N1.00 per share, with respect to the private placement memorandum on January 4, 2021 was successful.

He said a total of two applications for 3,010,800,000 ordinary shares were received in connection with the private placement.

He said all the two applications for 3,010,800,000 ordinary shares were found to be valid, accepted and processed accordingly.

He noted that the Securities & Exchange Commission (SEC) had cleared the Basis of Allotment, adding that the Central Securities Clearing System (CSCS) accounts of successful allotees would be credited with shares allotted by the registrars to the issue, Crescent Registrars Limited.

The SUNU boss said the company was embarking on the growth phase while it remained committed to its strategic objectives and core values, which would also guide the future and culture of the company.