Fortis Global Insurance to Cut Shares by 75% in Restructuring

Fortis Global Insurance Plc is set to downsize its issued shares from 12.91 billion units to 3.23 billion units, marking a 75% reduction in its total ordinary shares. This decision follows the approval obtained during an extraordinary general meeting held on April 4, 2025.

The company has received regulatory approval to implement this share capital reconstruction, which aims to compress its equity float significantly. The restructuring will involve a temporary freeze on market transactions involving its shares, with trading suspended for two weeks starting June 17, 2026.

This measure is intended to facilitate a seamless execution of the capital adjustment on the local exchange. The company will also update investor portfolios to reflect the new share structure.

The official notice regarding this restructuring was released on a Thursday, detailing the necessary steps for the transition.