Guinea Insurance Plc has secured regulatory approval to raise ₦5.8 billion through a rights issue as part of its strategy to reinforce capital adequacy and expand underwriting capacity.
In a statement issued on March 25, 2026, the company confirmed that the Securities and Exchange Commission has approved the issuance of 5.30 billion ordinary shares of 50 kobo each at ₦1.10 per share.
The offer is structured on the basis of two new shares for every three shares held by existing shareholders as of January 21, 2026.
The rights issue opened on March 25, 2026, and is scheduled to close on May 1, 2026.
Guinea Insurance stated that the capital raise is designed to strengthen its balance sheet, support business expansion, and improve service delivery across its operations.
The move comes amid ongoing efforts within Nigeria’s insurance sector to enhance capital buffers and align with evolving regulatory requirements.
Under the terms of the offer, shareholders have the option to take up their rights fully or partially. Unsubscribed rights may be traded on the Nigerian Exchange Limited during the offer period, subject to regulatory conditions.
The company added that detailed information on the offer, including procedures for acceptance, renunciation, and payment, has been made available through its rights circular.
Shareholders have been advised to consult their stockbrokers or designated receiving agents for participation guidance.
Analysts note that the rights issue is expected to improve Guinea Insurance’s capital position and support its growth strategy in a competitive insurance market, where scale and financial strength remain key performance drivers.
The development underscores increasing capital-raising activities within the financial services sector as companies position for long-term sustainability and improved market competitiveness.
