Guinea Insurance N5.8 Billion Rights Issue

Guinea Insurance has officially launched its N5.8 billion Rights Issue, offering 5,295,200,000 ordinary shares at N1.10 each, on the basis of two new shares for every three existing shares held. This strategic move aims to bolster the company's capital base, drive expansion, enhance innovation, and deliver greater value to shareholders. The additional capital will strengthen Guinea Insurance's financial stability, ensure regulatory compliance, and expand its underwriting capacity across key sectors of the Nigerian economy. It will also support investments in technology and operational efficiency, enabling greater penetration into the underpenetrated retail and SME insurance markets to foster growth and financial inclusion. Temitope Borishade, Chairman, and Ademola Abidogun, Managing Director, both expressed strong optimism about the offer's potential to reposition Guinea Insurance for a stronger, more competitive, and innovative future. Anchoria Advisory Services, represented by its Group Managing Director Sam Chidoka, is the Lead Issuing House and has encouraged shareholders and investors to participate.