Share

Six NGX-Listed Firms List 14.44 Billion New Shares Worth N37.19 Billion

Six Nigerian Exchange (NGX) listed companies have listed a combined 14.44 billion additional shares valued at N37.19 billion, driven largely by ongoing insurance industry recapitalization. Coronation Insurance, Sovereign Trust Insurance, SUNU Assurances, and Regency Alliance Insurance accounted for over 80% of the new share volume, raising capital to meet regulatory requirements. Additionally, Sterling Financial Holdings completed a significant private placement, while Eunisell Interlinked listed shares following a debt-to-equity conversion. These listings highlight the role of the capital market in supporting corporate balance sheet strengthening, though the impact on individual market capitalization will depend on prevailing market prices rather than the issue prices.

Share

guest
0 Comments
Oldest
Newest Most Voted

Reach us.

Have a question, idea or inquiry? We’d love to hear from you.

0
Would love your thoughts, please comment.x
()
x