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MarketScreener Homepage  >  Equities  >  Nigerian Stock Exchange  >  AIICO Insurance Plc    AIICO   NGAIICO00006

AIICO INSURANCE PLC

(AIICO)
  Report
End-of-day quote. End-of-day quote Nigerian Stock Exchange - 10/19
0.89 NGN   +5.95%
09/23AIICO INSURANCE : Supports Vulnerable Persons
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09/16AIICO INSURANCE : Shifts Annual General Meeting to December
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08/05AIICO INSURANCE : Grows Premium By 26%
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SummaryChartsNewsRatingsCompanyFinancialsConsensus 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector news

AIICO Insurance : to list 4.35b ordinary shares

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06/25/2020 | 05:35pm EDT

AIICO Insurance has applied to the Nigerian Stock Exchange (NSE) for the approval and listing of 4,357,770,954 ordinary shares of 50 kobo each at 80 kobo per share for five new ordinary shares on every 13 ordinary shares held.

Head, Strategic Marketing and Communications, Segun Olalandu, in a statement noted that shareholders now have the opportunity to increase their stake and position themselves for higher returns in a company with excellent prospects.

He stated that the company's recapitalisation journey started when the National Insurance Commission (NAICOM) planned to increase the capacity of the industry to take on more risks.

'Responding to this, he said, ''AIICO quickly articulated a clear path to meet the new minimum regulatory capital requirement. The company followed through with regular communications at all stages in the execution of the strategy with its shareholders, who have been supportive of the efforts.

'In February 2020, the company completed its private placement successfully with 38.83 percent of its shares snapped up by two strategic investors, LeapFrog Nigeria Insurance Holdings Limited (28.24 per cent) and AIICO Bahamas Nigeria Limited (10.59 per cent), raising the share capital from N6.1billion to N11.3billion.

'The Rights Issue is expected to generate N3.5billion, bringing the company closer to meeting the required minimum paid-up capital of N18 billion. The exercise will be followed subsequently with a capitalisation (bonus) issue, which has a qualification date of September 23, 2020.'

© Pakistan Press International, source Asianet-Pakistan


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All news about AIICO INSURANCE PLC
09/23AIICO INSURANCE : Supports Vulnerable Persons
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09/16AIICO INSURANCE : Shifts Annual General Meeting to December
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08/05AIICO INSURANCE : Grows Premium By 26%
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06/25AIICO INSURANCE : to list 4.35b ordinary shares
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06/10AIICO INSURANCE : records N17.6b
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05/12AIICO INSURANCE : Partners Chicken Republic
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Financials
Sales 2019 71 986 M 191 M 191 M
Net income 2019 5 784 M 15,3 M 15,3 M
Net cash 2019 7 451 M 19,8 M 19,8 M
P/E ratio 2019 0,87x
Yield 2019 -
Capitalization 12 101 M 31,8 M 32,1 M
EV / Sales 2018 0,03x
EV / Sales 2019 -0,03x
Nbr of Employees 559
Free-Float 72,9%
Chart AIICO INSURANCE PLC
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AIICO Insurance Plc Technical Analysis Chart | MarketScreener
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 1
Average target price 0,83 NGN
Last Close Price 0,89 NGN
Spread / Highest target -7,30%
Spread / Average Target -7,30%
Spread / Lowest Target -7,30%
Managers
NameTitle
Babatunde Fajemirokun Chief Executive Officer, MD & Director
Kundan Sainani Chairman
Oladeji Oluwatola Chief Financial Officer
Kadri Adewale Abass Executive Director & Head-Technical
Sobandele David Ayodeji Sobanjo Non-Executive Director
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