SEC Approves Guinea Insurance N5.8bn Capital Raise

Guinea Insurance Plc has received regulatory approval to raise about N5.8bn through a rights issue, following clearance from the Securities and Exchange Commission (SEC), in a move aimed at strengthening its capital base and supporting future growth.

In a notice to shareholders and the investing public, seen by THE WHISTLER, the company disclosed that the approved offer consists of 5,295,200,000 ordinary shares of 50 kobo each, priced at N1.10 per share.

The rights issue is structured on the basis of two new ordinary shares for every three shares held by shareholders as at the close of business on January 21, 2026.

The offer opened on March 25, 2026, and is scheduled to close on May 1, 2026, providing existing shareholders with the opportunity to increase their equity stake in the company.

Guinea Insurance said the capital raising initiative forms part of its broader strategic plan to reinforce its financial position, enhance underwriting capacity, and improve service delivery across its operations.

The company noted that the additional capital would enable it to better compete in Nigeria’s insurance industry while positioning it for sustained growth.
Under the terms of the offer, shareholders are entitled to take up their rights in full or in part.

Any rights not subscribed to may be traded on the Nigerian Exchange Limited (NGX) during the offer period, subject to necessary regulatory approvals, thereby providing liquidity and flexibility to investors.

The insurer advised shareholders to consult the rights circular for detailed information on the offer, including procedures for acceptance, renunciation, and payment.

It also urged investors to contact their stockbrokers or appointed receiving agents for guidance on participating in the exercise.