Linkage Assurance Finalises N16.2bn Rights Issue
Linkage Assurance Plc says it has completed its N16.2 billion rights issue undertaken in response to the National Insurance Commission’s (NAICOM) recapitalisation directive for insurance companies operating in Nigeria.
The company disclosed this in a corporate disclosure through the Nigerian Exchange Ltd. on Monday in Lagos.
It noted that the exercise would strengthen the company’s capital base and position it for business expansion.
According to the company, the rights issue involved 12.32 billion ordinary shares offered to existing shareholders at N1.32 per share. The offer opened on March 11, 2026, and closed on April 23, 2026.
Following the recent approval of the Securities and Exchange Commission (SEC), all the shares have been allotted to subscribers and subsequently listed on the Nigerian Exchange Ltd. (NGX).
The company said that the rights issue was fully subscribed, describing the outcome as a demonstration of shareholders’ confidence in the company’s board, management, governance structure, financial performance and strategic direction.
The statement reads, “The company remains committed to full regulatory compliance and prudent risk management.
“With its strengthened capital base, the company is well positioned to provide more robust services to its teeming customers and deliver sustainable value to stakeholders.”
Linkage Assurance further said the proceeds from the exercise would be used to meet the new minimum capital requirement prescribed by the regulator and support the company’s long-term business expansion strategy #Linkage Assurance Finalises N16.2bn Rights Issue# Linkage Assurance PBT Slides to N4.32bn as Insurance Revenue Rises
