Veritas Kapital Assurance Climbs to N16bn in Market Value

Veritas Kapital Assurance Climbs to N16bn in Market Value

Veritas Kapital Assurance Plc market value climbed by more than 8.4% in the equities market to N16.085 billion as investors ramped up its shares in the local bourse.

The significant demand for its shares pushed the assurance company’s market value upward, signalling renewed investor confidence in the financial services sector.

Its share price climbed to N1.16, marking 8.41% increase from the previous close of N1.07, reflecting an improved sentiment toward Veritas Kapital Assurance. The stock price surged as over 37 million shares valued at N42.4 million exchanged hands in the local bourse on Thursday.  

Veritas Kapital peaked at N1.17, matching its latest closing price, while the day’s low dipped slightly to N1.06. The company’s 52-week high of N1.80 highlights the potential for further growth.

The upward trajectory in the assurance stock highlights the resilience and strong market positioning. With a positive market trend, increased trading activity, and a strong sectoral presence, Veritas Kapital Assurance Plc is poised for further growth.

Shareholdings

More than 62% of the assurance company’s shareholdings are held by two majority shareholders: Veritas Capital Limited (52.8%) and Dr.Emmanuel I.U Ojei (9.29%).

Other influential shareholders with combined interest of 7.90% include Kano State Inv & Properties Ltd (3.33%), First Nominee/Asset Mgt Corp of Nig (2.79%) , Wushishi Mohammed Inuwa (LT. Gen. Rtd) (1.00%)  and Sen. Maj. Gen. M. Magaro OFR (0.76%) Fitch Affirms Rwanda at ‘B+’ with Stable Outlook