Guinea Insurance Plc has announced that it has obtained approval from the Securities and Exchange Commission (SEC) for its N5.8 billion Rights Issue. This significant development was communicated in a notice to shareholders and the public, dated March 25, 2026, and signed by the company’s Company Secretary, Chinenye Nwankwo.

The rights issue is a strategic move designed to bolster the company's capital base and facilitate its operational expansion. This capital raise is expected to provide Guinea Insurance with the necessary financial flexibility to enhance its underwriting capacity and sustain its growth trajectory.

The offer officially opened on March 25, 2026, and is scheduled to conclude on May 1, 2026. Shareholders who were on record as of the close of business on January 21, 2026, are eligible to participate in this rights issue.

The statement detailed that the rights issue comprises 5,295,200,000 ordinary shares of 50 kobo each, offered at a price of N1.10 per share. The basis for the issue is two new ordinary shares for every three ordinary shares held by eligible shareholders.

Guinea Insurance has encouraged its shareholders to fully or partially subscribe to their rights. For those unable to exercise their rights, these can be traded on the Nigerian Exchange Limited (NGX) during the offer period, subject to regulatory approvals.

This initiative is a key component of Guinea Insurance’s strategy to strengthen its financial standing and comply with new regulatory minimum capital requirements. The application for this rights issue was initially submitted to the Nigerian Exchange (NGX) in January 2026, seeking approval to raise approximately N5.30 billion.

The funds raised will not only enhance the company's ability to underwrite risks in key sectors of the Nigerian economy but also support crucial technology investments aimed at driving digital transformation and improving operational efficiency.

Shareholders seeking more information are advised to consult the Rights Circular distributed by the company. Further guidance on acceptance, renunciation, and payment procedures can be obtained by contacting their stockbrokers or the company’s appointed receiving agents.