Insurance Firm Gets SEC Nod for N15.6 Rights Issue

Great Nigerian Insurance Plc has received approval from the Securities and Exchange Commission to proceed with its proposed rights issue of 6 billion ordinary shares of 50 Kobo each at N2.60 per share.
The rights issue, valued at N15.6 billion, is being offered on the basis of six new ordinary shares for every seven existing ordinary shares held as at the close of business on 4th June 2026.
This was made known in a notice to shareholders, stakeholders, the National Association of Securities Dealers and the investing public, stating that the Company had obtained approval from the Securities and Exchange Commission for the proposed offer and would proceed with the rights issue in line w...