AIICO to list additional 4.3bn shares at NSE

AIICO, Insurance, NSE,

AIICO Insurance Plc has submitted an application to the Nigerian Stock Exchange, seeking approval for some 4.3 billion ordinary shares of N0.50 each which it plans to list on the Nigerian bourse. A statement signed on Monday by Godstime Iwenekhai, the NSE’s head of listing regulation, said the application for the rights issue was submitted by Magnartis Finance and Investment Limited, AIICO’s stockbroker. It was further disclosed that the shares would be purchased at N0.80, on the basis of five new ordinary shares for every thirteen shares already held by…

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