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Guinea Insurance manages expectation in N5.8b rights issue offer
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Guinea Insurance manages expectation in N5.8b rights issue offer
WorldStage– Guinea Insurance Plc, one of Nigeria’s oldest insurance companies on March 16 announced plans to raise N5.8 billion through a rights issue of 5.29 billion ordinary shares of 50 kobo each at N1.10, about 68 percent below its initial target in the drive to meet the Nigerian Insurance Commission (NAICOM)’s recapitalization requirements. The company’s shareholders had approved N19 billion capital raise and 38 billion rights issue at an e…
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