Sovereign Trust Insurance Plc notified The Nigerian Stock Exchange of their intention to raise N1.1 billion through a Rights Issue.
The Company explained that the Rights Issue is a strategic step towards accomplishing its five year strategic blue-print which amongst others will reinforce its competiveness’ in the Nigerian market and improve its market share.
The offer is expected to commence in the third quarter of this year and is subject to approval of the Securities & Exchange Commission (SEC) and The Nigerian Stock Exchange (NSE).