DF Holdings has acquired 27.17 million units of AIICO Insurance Plc shares at N30 million.
DF Holdings has spent a cumulative sum of N555.3 million on 474.6 million shares of AIICO Insurance Plc.
AIICO Insurance Plc has recorded a 126% subscription of its recently concluded rights issue.
AIICO insurance Plc shareholders have given their nod to a rise in the firm’s authorized capital to N20 billion.
As the dust from the #EndSARS protests settles down, it is a time of reckoning for insurance companies in Nigeria.
Right issue will increase the capital base of the firm from N11.6 billion to N15.1 billion.
AIICO Insurance in collaboration with an NGO brought food items to residents of a Lagos community.
Recently, AIICO Insurance has been raising capital through various means. The sell-off could be one of them.
Company’s shareholders now have the opportunity to increase their stake and position themselves for higher returns.
AIICO's gross written premiums for FY 2019 also increased by 33% to N50.1 billion last year