BY NKECHI NAECHE-ESEZOBOR—Guinea Insurance Plc has officially approved its Rights Issue, a key move aimed at bolstering its capital base and positioning the company for long-term growth.
The signing ceremony, held on Monday, March 16, 2026, covers 5.295 billion ordinary shares of 50 kobo each, offered at ₦1.10 per share. Shareholders are entitled to two new shares for every three existing shares held.
Speaking at the event, Chairman of the Board, Temitope Borishade, described the capital raise as a critical milestone in the company’s transformation agenda. He noted that the initiative will support Guinea Insurance’s plans to scale operations, drive innovation, and deliver improved value to shareholders.
According to him, the Rights Issue underscores the company’s commitment to strengthening its capacity to provide enhanced insurance solutions across key sectors, while also improving returns for investors and service delivery for customers and brokers.
Managing Director, Ademola Abidogun, emphasized that the exercise goes beyond regulatory compliance, positioning the company for sustainable growth and long-term value creation.
He explained that the additional capital will enhance financial stability, boost underwriting capacity, and support investments in technology and operational efficiency.
Abidogun added that the funds will also enable Guinea Insurance to expand into Nigeria’s underpenetrated retail and SME insurance segments, driving growth and supporting broader financial inclusion.
In his remarks, the Group Managing Director of Anchoria Advisory Services Limited, Sam Chidoka, representing the Lead Issuing House, commended the company’s growth trajectory and encouraged shareholders to take up their rights once the offer opens. He also urged prospective investors to explore opportunities presented by traded rights.
Guinea Insurance reiterated its commitment to building a stronger, more competitive, and innovative company, while delivering sustainable value to shareholders and improved protection for customers.
