Insurance World

SEC Approves Extension of Wapic Insurance Rights Issue Period

By NĶECHI NAECHE-ESEZOBOR: The Securities and Exchange Commission (SEC) on Thursday said it has approved a further extension of the offer period of Wapic Insurance Plc’s Rights Issue of 15,613,194,623 ordinary shares of N0.50 each at N0.38 per share on the basis of seven (7) new ordinary shares for every six (6) ordinary shares held as at the close of business on 19 September 2019.

This is conntained in a filling to the Nigerian Stock Exchage that with the SEC’s approval, the Offer which was initially scheduled to close on Tuesday, 31 December 2019 will now close on Friday, 10 January 2020.

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